Secure Act

Submitted by Orrin Kohon on Wed, 2019-12-25 21:10

So I turned 70 1/2 Oct 1, 2019. I know I must take 2019 RMD by April1, 2020. The question is, what RMD’s are due after that based on new law? I am thinking no RMD for 2020 as I will be 71 and the new rules apply. I am not sure about 20121.



Submitted by Alan - IRA critic on Wed, 2019-12-25 22:13

  • Unfortunately, you are not affected by the increase in RMD age to 72 because you reached 70.5 prior to 2020.  You must complete your 2019 RMD by 4/1/20, your 2020 RMD by 12/31/20, and your 2021 RMD by 12/31/21. If you postpone your 2019 RMD to 2020, then you will have to report two taxable RMDs in 2020. The following is copied from the RMD age provisions of the Secure Act:
  • “(d) Effective date.—The amendments made by this section shall apply to distributions required to be made after December 31, 2019, with respect to individuals who attain age 70½ after such date.”

Add new comment

Log in or register to post comments