For 2023, the age at which account owners must start taking required minimum distributions (RMD) is 73. IRA account owners born in 1951 must receive their first RMD by April 1, 2025. After that, each yearly RMD must be taken by December 31.
Legislative RMD Age Changes
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2023 RMD
- Born in 1950 > 73 in 2023 > RMD is Due
- Born in 1951 > 72 in 2023 > RMD is not Due
First RMD for 2023; Born in 1950
Option 1: Take RMD by 12/31/2023
*Option 2: Take RMD by 4/1/2024
*If you opt for Option 2, you’ll need to take your first RMD by April 1, 2024, and your next RMD by December 31, 2024.
2024 RMD
- Born in 1950 > 73 in 2023 > RMD is Due
- Born in 1951 > 72 in 2023 > RMD is Due
First RMD for 2024; Born in 1951
Option 1: Take RMD by 12/31/2024
*Option 2: Take RMD by 4/1/2025
*If you opt for Option 2, you’ll need to take your first RMD by April 1, 2025, and your next RMD by December 31, 2025.