Is a person a 5 percent owner for RMD purposes if the person owns more than 5 percent of the company after the year in which the person attains age 70 1/2? The regs state a person is a 5 percent owner if he owns more than 5 percent of the employer in the year in which he attains age 70 1/2, and the LRMs state that such person remains a 5 percent owner thereafter, but the regs do not appear to address my situation.

It appears that if one is not a 5% owner on one's 70 and 1/2 birthday that one is not a 5% owner.