First RMD before birthday

[kml426]

Hello,

My wife turns 73 in June 2024, so she must begin taking her RMD. I know she can delay this until April 1, 2025, but can she take her first RMD in 2024 before her 73rd birthday and have it count for her 2024 RMD?

Thank you,

Kevin 

[dmertz · Accepted solution]

Yes.  An RMD for a particular year can be taken at any time during the year (and up to April 1 of the following year for the first RMD-year's RMD as you noted).  Age (and for a qualified retirement plan, whether or not the plan supports the still-working exception) determines the year for which a distribution is required, not the timing of the distribution.

[Opus 17]

Remember than an RMD is just the minimum amount a person must withdraw during the year to meet regulations.  It is not a specific transaction, it is a total dollar amount.  For example, if her RMD was $5000, that could be met with a single withdrawal of $5000.  The requirement would also be met if she withdrew $500 per month over the course of the year for living expenses, since the total withdrawal would be more than the minimum requirement.  Since she turns 73 in 2024, the requirement is satisfied for her 2024 return as long as she withdraws the minimum required amount (or more) during 2024.