New RMD rule for clients that are 72
Hello, I just want to confirm for the new RMD age per the Secure Act the cut off deadline in that client’s born after 06/30/1949 will fall under the new rules and can wait until they are 72 before taking RMD’s, correct?
Thank you.
Permalink Submitted by David Mertz on Mon, 2021-01-25 14:39
Correct. A person with a birthdate after 06/30/1949 will not have reached age 70½ by the end of 2019, so their first RMD year will be the year in which they reach age 72. Their Required Beginning Date for RMDs will be April 1 of the year following the year they reach age 72.