One Key Rule for Understanding Your 2023 RMD


Recent retirement savings legislation (e.g., the SECURE 2.0 Act) has created confusion about when people must begin taking required minimum distributions (RMDs) from tax-deferred retirement savings accounts. (RMDs are the minimum amounts you must withdraw from certain retirement accounts each year once you reach a certain age.) 

For example, a few years ago, the SECURE Act raised the age for taking RMDs from 70.5 to 72. But last year, when the SECURE 2.0 Act became law, the RMD age moved to 73. That raised questions about who could or couldn’t delay their RMDs until the following year. 





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