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If you inherited an IRA after Dec. 31, 2019, from someone who was already taking required minimum distributions, you'll have to continue taking annual RMDs until you empty the account. The IRS ...
You don't have to take an RMD from Roth accounts in your 401(k) anymore. The new rule is part of the Secure 2.0 Act from 2022, but it didn't go into effect until 2024.
You have three extra months (or longer) to take your first RMD. ... there's a special rule for your first year taking them. You can delay the distribution up until April 1 of the following year ...
Knowing these important rules could save you a lot in taxes and fees. 3 New Required Minimum Distribution (RMD) Rules Everyone Must Know Before the End of 2024 Skip to main content
Born between July 1, 1949, and December 31, 1950: RMDs should have started at age 72. Born before July 1, 1949: RMDs should have started at age 70 and 1/2. In most cases, RMDs must be taken by Dec ...
However, if you just turned 73 in 2024, you have until April 1, 2025, to make your RMD for this year. In subsequent years, though, you must make your RMDs by Dec. 31 of that year. 2.
The IRS then requires you to subtract 1 from this initial life expectancy factor when calculating RMDs for each following year. You can also take the owner’s RMD during the year of his or her death.
RMDs begin at age 73 if you were born before 1960. If you were born in 1960 or later, you don't have to take your first RMD until age 75. Two people at a laptop. Image source: Getty Images.