topic Has the age for Required Minimum Distributions from IRAs been changed from 70 1/2? in Retirement tax questions

Has the age for Required Minimum Distributions from IRAs been changed from 70 1/2?

rdskelton — Tue, 16 Mar 2021 21:55:16 GMT

I had heard that it was changed because of the CARES act

Re: Has the age for Required Minimum Distributions from IRAs been changed from 70 1/2?

dmertz — Tue, 16 Mar 2021 22:02:45 GMT

It was the SECURE Act, not the CARES Act that, for those reaching age 70½ after 2019, changed the RMD age to 72.

Re: Has the age for Required Minimum Distributions from IRAs been changed from 70 1/2?

DavidD66 — Tue, 16 Mar 2021 22:06:03 GMT

Yes, the RMD age has changed. Your required minimum distribution is the minimum amount you must withdraw from your account each year. You generally have to start taking withdrawals from your IRA, SEP IRA, SIMPLE IRA, or retirement plan account when you reach age 72 (70 ½ if you reach 70 ½ before January 1, 2020).