Timing of the RMD in the year an individual turns 70 1/2
If the individual turns 70 1/2 in July (for example) can they satisfy their RMD by taking the required Distribution in June of the same year before they turn 70 1/2? I thought yes as I recall the regulation says: “In the year the Individual turns 70 1/2 they have to take their first distribution or postpone it to the next year but not later than April 15th of the the after they turn 70 1/2”. Can you confirm?
Permalink Submitted by Alan - IRA critic on Wed, 2013-06-12 04:55
Yes, the first RMD can be taken any time in the year individual reaches 70.5, or as late as 4/1 of the following year.