A. IRS requires everyone who reaches age 70.5 to begin withdrawing funds from their retirement accounts. But if you are still working, this rule does not apply to your current plan.
Please note two key parts in the above sentence:
1. No distribution required from your current plan. However, you are still required to take the RMD from your former employer's retirement account or an IRA. Our previous blog discussed a trick to get around this requirement.
2. Still working means you cannot own more than 5% of the company you are working for.