IMPORTANT: The Coronavirus Aid, Relief, and Economic Security Act (CARES) Act of 2020 contains provisions providing a temporary waiver of RMDs for IRAs, 401(k)s and other employee-sponsored retirements plans for 2020.
SECURE Act Raises Age for RMDs from 70½ to 72: The Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019 raised the age when you must begin taking RMDs from a traditional 401(k) or IRA from 70½ to 72. If you turned 70½ years old on or after January 1, 2020, this law’s changes apply to you and you do not have to begin taking RMDs until April 1 of the year following the year that you turn age 72. If you turned 70½ years old in 2019, the law's changes do not apply to you.
Note: If your spouse is more than ten years younger than you, please review IRS Publication 590-B to calculate your required minimum distribution.
THIS RMD CALCULATOR HAS NOT YET BEEN UPDATED TO REFLECT THESE CHANGES.
Additional Information on RMDs:
- IRS RMD FAQ Page
- IRS RMD Comparison Chart (IRAs vs Defined Contribution Plans (e.g., 401(k), profit sharing, and 403(b) plans))
- IRS Publication 575 (Pension and Annuity Income) (discusses distributions from defined contribution plans)
- IRS Publication 590 (Distributions from IRAs)
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