RBD for those who turned 72 in 2022
If an IRA account owner who turned 72 in 2022 delayed his first RMD to April 1, 2023, is he still obligated to satisfy the 2022 RMD under the new rule? In other words, can he take his first RMD in 2023 as a 73 year old, without satisfying the 2022 RMD without penalty?
Thanks,
Permalink Submitted by Alan - IRA critic on Wed, 2023-01-04 01:07
No, the 2022 RMD is still required to be distributed by 4/1/2023 because a 2022 RMD is required of those reaching 72 in 2022. This IRA would also be required to complete a 2023 RMD, meaning that both the RMDs for both years would be taxable in 2023. If the owner did not turn 72 until 2023, there would be no 2022 RMD required.