I have a client that turned 72 in 2022 and has the following accounts.
-Schwab SEP & -SEP at her bank established on April 2022
I told her that she now needs to take RMD from her Schwab account and has until April 2023. I also informed her that if she waits until next year, she will need to take the 2022 and 2023 distributions in 2023.
She asked me if she needs to take an RMD from the SEP account established in April 2022, but I would not think she does need to since the account was not established before 12.31/2021. Is this correct?