Retired taxpayers over 59½ years of age at the end of the year must receive minimum distributions from defined contribution plans or they are subject to a penalty.

Name: Retired taxpayers over 59½ years of age at the end of the year must receive minimum distributions from defined contribution plans or they are subject to a penalty.
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Question

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Minimum distributions are required for the year in which an employee reaches 70½ years of age or retires, whichever comes later.

Retired Taxpayers Over 59½ Years of Age at the End