Who takes RMDs
Traditional IRA and 401(k) account holders starting at age 73 (age 75 for those born in 1960 or later). Roth IRAs have no RMD during owner's life. Inherited IRAs (non-spouse) follow the 10-year rule post-SECURE.
First-year timing
The first RMD can be delayed to April 1 of the year after you turn 73. Doing so creates two RMDs in that year, most people don't defer for that reason.
Have a specific situation?
Call the office and a human answers.
Common questions
- What if I miss an RMD?
- The excise tax is 25% of the missed amount (reduced to 10% if corrected within 2 years). File Form 5329 with reasonable-cause waiver request.
Related
Personal Income Tax Preparation
Federal and state 1040 preparation with year-round planning. Serving individuals in Florida and all 50 states.
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Year-round tax planning for individuals and business owners. We model decisions before they become tax liabilities.
Tax Planning When You Retire
Social Security taxation, RMDs at 73, Roth conversions, and the tax impact of Medicare premiums.