Jun 14, 2023 When do I start my Required Minimum Distribution?
The Required Minimum Distribution (RMD) from an IRA or Employer-Sponsored retirement account began at age 70.5 for many years. It was then increased to age 72, then to age 73, and for some to age 75. So, the question remains for some; at what age will I start my Required Minimum Distribution?
Below is a chart that summarizes when you will have to take your RMD.
Source: Slott Report; IRA RMD Age Made Easy.
There is still the option to delay your first RMD and take it out by April 1st of the year after your RMD begins, but then you are taking 2 RMDs in a year. As always, we continue to ensure your RMDs are done and that we are doing it tax efficiently.
Please contact your advisor if you have any questions.
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