RMD Age for 401(k)’s
A CPA told a client that the RMD age for 401k’s starting next year is 75. Is that correct?
- No. The first RMD year is based on the year of birth. It is no longer the same age for everyone as it used to be for age 70.5. Only those born in 1960 or later are able to begin RMDs at 75. That said, if a current 401k participant is still working and not a >5% owner, RMDs do not start until the year of retirement.
- For year of births 1951-1959 RMDs start at 73.
Permalink Submitted by David Mertz on Thu, 2023-09-14 20:59
No, not if the individual reaches age 73 before 2033. The RMD age for those reaching age 72 after 2022 is 73 and for those reaching age 73 after 2032 it’s age 75.