RMD BD
A person turned 70 on Dec. 28th, 2015. Based on the 70 1/2 RMD rule, what would be the deadline to take their first RMD?
Thanks.
A person turned 70 on Dec. 28th, 2015. Based on the 70 1/2 RMD rule, what would be the deadline to take their first RMD?
Thanks.
Permalink Submitted by Alan - IRA critic on Mon, 2017-02-20 19:57
April 1, 2017 is the deadline to distribute the first distribution year RMD which is for year 2016 calculated using 12/31/2015 balance and divisor for age 71 (26.5). 2017 RMD needs to be completed by 12/31/2017 using 12/31/2016 balance.