Federal law requires traditional IRA owners born Jan. 1, 1951–Dec. 31, 1959 to begin required minimum distributions at age 73. Owners born Jan.
1, 1960 or later begin at age 75 starting in 2033. A required minimum distribution is the minimum amount the owner must withdraw each year. The Internal Revenue Service lays out that birth-year schedule on its current RMD topics page. The rule sets when withdrawals must start, not when retirement must start. Knowing the correct age prevents a missed first payment.
Table of Contents
- Which starting age applies to you?
- Which accounts follow this age rule?
- When must each yearly payment arrive?
- How is the amount set, and what if you miss?
Which starting age applies to you?
Congress raised the starting age in stages. It was 70 1/2 before the SECURE Act, then 72 under the 2019 SECURE Act. It became 73 in 2023, with 75 scheduled in 2033 under the 2022 SECURE 2.0 Act.
The Internal Revenue Service summarizes that history in its RMD comparison chart for IRAs and defined-contribution plans. Use birth date to find your age rule. The two groups cover the current transition without overlap.
- Born Jan. 1, 1951–Dec. 31, 1959: start at 73.
- Born Jan. 1, 1960 or later: start at 75 starting in 2033.
Which accounts follow this age rule?
The age-73 rule covers traditional IRAs, SEP IRAs and SIMPLE IRAs. It also covers most defined-contribution workplace plans, including 401(k), 403(b) and governmental 457(b) accounts.
Workplace savers should identify every covered balance before the first deadline. Under Internal Revenue Service rules, original Roth IRA owners face no lifetime required minimum distributions. Starting in 2024, SECURE 2.0 extended that lifetime exemption to designated Roth balances in employer plans.
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When must each yearly payment arrive?
An IRA owner's first required minimum distribution must be taken by April 1 of the calendar year after reaching the applicable age. Every later year's payment is due by Dec. 31 of that year.
The Internal Revenue Service states both deadlines in its RMD comparison chart for IRAs and workplace plans. Schneider Downs notes a practical limit to using the April 1 extension. Delay forces two taxable distributions in one calendar year. That extra income in a single year can raise taxable income for that year.
How is the amount set, and what if you miss?
Each year's amount equals the account balance at the prior Dec. 31 divided by one life-expectancy factor. The Internal Revenue Service provides the factor for the owner's age in the Uniform Lifetime Table in Publication 590-B.
Use the factor that matches your age for that year. SECURE 2.0 cut the excise tax for missed minimums from 50% to 25% of the shortfall beginning in 2023. Tax Facts reports a further reduction to 10% if the miss is corrected within two years in its penalty guide for missed IRA minimums. Correct a shortfall within two years to qualify for the lower 10% rate.
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