RMD and Secure 2.0
I will be 72 in July. Therefore, my RMD is not due until March, 2023 or thereabouts, and I will need to take another or 2 RMD’s in 2023. If the House version of Secure 2.0 passes, effective January, 2023, I do not owe an RMD until age 73.
The way I see it, I am in compliance with my “lack of RMD” as of January 1, 2023, and therefore the law Secure 2.0 applies to me and I am obligated to take one RMD in 2023.
Do you agree or am I missing something.
Permalink Submitted by Alan - IRA critic on Wed, 2022-06-29 00:14
There are different RMD trigger years in the varying bills. For you to avoid a 2022 RMD (RBD 4/1/2023), the final signed legislation would have to change the age to 73 for those reaching 72 in 2022 like yourself. One of the current bills has the increase to age 73 first applying to those who reach 72 in 2023 (RBD 4/1/2024). Therefore, you will have to monitor the final bill’s provisions for effective years of the RMD age increase.