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View Full Version : How much can be withdrawn from 401k traditional account every year?


compiler
Dec 26, 2010, 04:41 PM
How much can a retiree withdraw from his 401k traditional account every year, any amounts or there are minimum and maximum amounts limits required by the IRS? Thank you for your answer.

ebaines
Dec 27, 2010, 06:10 AM
There is no maximum withdrawal limit (up to the value of the account, of course). As for a minimum withdrawal requirement - there is a minimum withdrawal you must take once you reach age 790-1/2, based on life expectancy. If you need details on that, see this site:
Understanding the IRA Withdrawal Rules - Personal Finance - Taxes - SmartMoney.com (http://www.smartmoney.com/personal-finance/taxes/understanding-the-ira-withdrawal-rules-11956/)

But prior to age 79-1/2 you are not required to take a withdrawal.