RMDs: When Do I Have to Take One and How Do I Calculate It?

The rules on when retirees must take required minimum distributions (RMDs) changed as of Jan. 1, 2020, thanks to the SECURE Act, which was signed into law on Dec. 20, 2019. 

Under the old rules, anyone with money in an IRA was forced to take an RMD every year starting at age 70½. The SECURE Act now delays those required distributions until age 72.

  • If you were born on July 1, 1949, or later, you do not have to take an RMD until age 72. 
  • If you were born before that, you fall under the old RMD rules, and you’ll be forced to withdraw money (whether you need it or not) every year starting after age 70½.

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