Some of you might be able to delay RMDs from retirement plans. There is an exception to RMDs for employer qualified retirement plans, including 401(k), profit-sharing, 403(b), and 457 plans. Bottom line: If you’re self-employed or an owner of a family business, you probably can’t delay RMDs from employer-sponsored retirement plans. When you can delay RMDs from the plan of your current employer, you still can’t delay RMDs from any retirement accounts you have with past employers. Also, it’s best to begin RMDs by the end of the year that you stop working there to avoid having two RMDs in one year.

Source: Forbes March 23, 2018 15:56 UTC