First RMD from IRA, April 1, 201x and December 31, 201x

Submitted by Peter Tilkin on Tue, 2017-10-03 18:23

Please, if my birthday is 11/3/1945, then I turned 70, 11/3/2015. I turned 70 and 1/2 on May 3, 2016. Since you take your first IRA RMD by April 1, of the year AFTER the year you turned 70 and 1/2, that date would be April 1, 2017. Is that correct? Thank you.

Is it correct that the IRA FMV that I would use for this first RMD is IRA FMV at 12/31/15?

Besides the April 1, 2017, I must do another IRA RMD by 12/31/17.

Is it correct that the IRA FMV I would use for the 2nd 2017 IRA RMD is IRA FMV 12/31/16?

Please, what is the %, (or divisor I must use), based on my birthday above, of the 12/31/15 IRA FMV that must be distributed by April 1, 2017?

Also please, what is the % (or divisor I must use), based on my birthday above, of the 12/31/16 IRA FMV that must be distributed by 12/31/17?

Secondly please, if my birthday is 11/25/46, then I turned 70 11/25/16. I turned 70 and 1/2 May 25, 2017. The year after I turned 70 and 1/2 is 2018, and my first IRA RMD must be taken by April 1, 2018, based on IRA FMV on 12/31/16. Is this correct?

Based on my birthday, 11/25/46, what is the % or the divisor I would use for the April 1, 2018 distribution based on IRA FMV 12/31/16? Also, please, what is the % or the divisor I would use for the 12/31/18 distribution based on IRA FMV on 12/31/17?

Sincerely, thank you very much.

Peter M. Tilkin, Esq. CPA, MBA



Submitted by Alan - IRA critic on Wed, 2017-10-04 00:14

  1. His first RMD year FOR WHICH you must take an RMD is 2016. You could have delayed that RMD until 4/1/2017 if you wished, but if you did you will have to take the 2017 RMD based on the 12/31/2016 FMV in 2017 as well. The 2016 RMD uses the IRA FMV on 12/31/2015.
  2. The divisor for your 2016 RMD is 26.5 since you were 71 on 12/31/2016. For your 2017 the divisor is 25.6.
  3. For the alternate DOB in 1946, all of the above happens one year later including the divisors quoted above.

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