In the US, Turning 70 soon and not clear about 401K withdrawals, are they required at 70?

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No. With covid, the law keeps changing regarding the age you’re required to start making distributions. It was 70 and a half, then 72, and there has been talking raising it to 75.


If you are lucky enough to not need the RMDs – you may want to look at what the impact is of having to start taking the RMDs. Will the RMD’s throw you into a much higher tax bracket? If you are in a very low marginal tax bracket or zero tax bracket – it may make sense to CONVERT some of the 401K into a ROTH – although you have to pay tax on the conversion – if your tax bracket is zero or very low, you will pay little to no taxes on it. And now it continues to grow tax free AND can reduce your RMD on what is left in your traditional 401K as long as you do this prior to age 72. And you need to get the Roth money into a Roth IRA to protect that money from RMD requirements (I think Roth 401Ks still have to follow RMDs – but someone can correct me if I’m wrong)


I don’t know if all plans do this, but in 2019 (when my husband reached the age of mandatory withdrawals), the fund sent him a letter, and we sent banking info for them to direct deposit the exact minimum amount. Nothing this year, because the requirement was waived for the year. Next year, they will do it again without our needing to figure out the required amount.


I’m going to be 59 1/2 in a year and can start withdrawing from my IRA and 401k. I’m going to pay so much tax that I almost want to let it sit and will it to my great grandchildren that aunt’ here yet.