RMD Age (for Some) Pushed Back to Age 72

Earlier this year, the House of Representatives passed the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019. This month it was unexpectedly included in an appropriations bill passed by the Senate on December 19, 2019 and signed into law the next day.

Right now, those with traditional IRAs have to start taking required minimum distributions (RMDs) by April 1 following the year in which they turned 70 ½. The SECURE Act, recognizing that people live longer, pushes back the age at which you have to start taking RMDs. Starting in 2020, you may begin taking them by April 1 in the year following the year in which you turn 72.

TRANSLATION: If you were born on or before June 30, 1949, you won’t be able to delay until age 72.

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