AmyC
Expert Alumni

Retirement tax questions

The IRS says:

 

You generally have to start taking withdrawals from your IRA, SIMPLE IRA, SEP IRA, or retirement plan account when you reach age 72 (70 ½ if you reach 70 ½ in 2019). Roth IRAs do not require withdrawals until after the death of the owner.

 

Any and all retirement plans DO have an RMD. You can take all of your RMD from one place and have it cover multiple accounts. The program has to know how much money is RMD. Each issuer reports to the IRS what the RMD is. The IRS can add it up and determine if you met the RMD. 

 

IRA or pension, if it is retirement, it has an RMD. Everything you ever wanted to know about RMD is answered by the IRS in their easy to read- Retirement topic.

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