Secure Act 2.0 Question
Hello, now that the RMD age is 73 does this mean that a person turning 73 in 2023 could delay their first RMD until 04/01/2024 and then have to take an additional RMD in 2024 for that year?
Thank you.
Hello, now that the RMD age is 73 does this mean that a person turning 73 in 2023 could delay their first RMD until 04/01/2024 and then have to take an additional RMD in 2024 for that year?
Thank you.
Permalink Submitted by David Mertz on Wed, 2023-01-04 16:33
[Disregard this incorrect reply. The age 73 RBD only applies to those reaching age 72 after 2022] Yes, the RBD for someone reaching age 73 in 2023 is April 1, 2024.
Permalink Submitted by Jessica DeBold on Wed, 2023-01-04 20:45
If this person turns 73 in 2023, they would have been 72 in 2022 so the old RMD rules would still apply here wouldn’t they? I thought this only applied for someone turning 72 in 2023.
Permalink Submitted by Alan - IRA critic on Wed, 2023-01-04 21:02
Yes, good catch. A 2022 RMD is required with an RBD of 4/1/2023. There are no IRA RBDs in 2024 because no one’s first RMD year will be due for 2023.
Permalink Submitted by David Mertz on Wed, 2023-01-04 21:30
Thanks for catching that.