RMD for Year 2021
The IRS has recently released its revised Uniform Lifetime Table, which I understand does not take effect until 2022. Consequently, I assume that I must use the Old/Current Table for my calculation in 2021. Is this correct?
Example: I will turn 72 in 2021. The Current Table shows my RMD Factor as 25.6. The Revised Table shows my RMD Factor as 27.3. Am I correct that I must use the 25.6 to calculate my RMD for 2021?
Permalink Submitted by Alan - IRA critic on Thu, 2020-11-19 17:56
Yes, the current tables must be used for 2021 RMDs, so your divisor will be 25.6. Note that if you reached 70.5 after 2019, 2021 will be your first RMD distribution year. In that situation you can defer your 2021 RMD until 4/1/2022, however you will still need to use the old table for calculating that RMD even if you take it in 2022.