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.
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. We handle W-2, 1099, K-1, rental, and crypto income for individuals in Florida and all 50 states.
Tax Planning
Year-round tax planning for individuals and business owners. We project the year's income quarterly and model decisions before they become tax liabilities.
Tax Planning When You Retire
The years between retirement and RMDs at 73 are often the best Roth conversion window. How conversions, distributions, and IRMAA Medicare tiers interact.