Equitatus brings up an issue that has been discussed here and there, but we believe this topic is important enough to highlight and discuss:
“I’m not asking for tax advise but my brother noteholder will be 70 this year. The following is from the IRS web site:
Required Minimum Distributions (RMDs) generally are minimum amounts that a retirement plan account owner must withdraw annually starting with the year that he or she reaches 70 ½ years of age or, if later, the year in which he or she retires. However, if the retirement plan account is an IRA or the account owner is a 5% owner of the business sponsoring the retirement plan, the RMDs must begin once the account holder is age 70 ½, regardless of whether he or she is retired.
How do make or account for an RMD when you funds are frozen?”