How Much Do I Have to Withdraw From My 401(k) at Age 70 1/2?


Quick Answer

At age 70 1/2, an individual is required to withdraw the required minimum distribution, or RMD, from his 401(k) retirement account, according to About.com. The amount of an individual's RMD varies based on age and account balance, and it is calculated every year.

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Full Answer

Individuals can withdraw from a 401(k) at any point after age 59 1/2 without facing the 10 percent early withdrawal penalty, assuming a separation from the workforce, according to About.com. Retirees can also choose to delay withdrawals until April 1 of the year in which they turn 70 1/2. The RMD amount that must be withdrawn is calculated by dividing the account's balance by an individual's life expectancy using IRS mortality tables. The amount withdrawn is then taxable as ordinary income.

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