Under a provision in proposed retirement legislation pending in Congress, required minimum distributions, or RMDs, would start at age 75 by 2032, up from age 72 — which only took effect last year after the 2019 Secure Act raised it from age 70½.

What is the current required minimum distribution age?

72
You reach age 70½ after December 31, 2019, so you are not required to take a minimum distribution until you reach 72. You reached age 72 on July 1, 2021. You must take your first RMD (for 2021) by April 1, 2022, with subsequent RMDs on December 31st annually thereafter.

What are the new RMD requirements?

However, in 2021 you will have to take your first RMD. This RMD is due by the end of 2021, not April 1, 2022. Compare this to someone who reached age 70.5 on January 1, 2020, or later. They fall under the SECURE Act rules – the age to watch is 72.

How old do you have to be to get a RMD under secure Act?

Although the SECURE Act changes the age at which RMDs must begin (for those turning 70 ½ after 2019), the law made no change to the age at which Qualified Charitable Distributions (QCDs) may begin (which is also age 70 ½).

When did the RMD age change from 70 to 72?

The Secure Act increased the required minimum distribution (RMD) age from 70 1/2 to 72, marking the first change to the RMD age since first becoming law in 1986. The age increase will only apply to anyone born on or after July 1, 1949.

When to delay RMD if spouse is younger than 72?

If your spouse was younger than 72: you can delay RMDs until your spouse would have reached age 72. RMD Rules When a Non-Spouse Inherits a Traditional IRA The SECURE Act , which passed at the end of 2019, raised the RMD age from 70.5 to 72.

When do new RMD rules go into effect?

EFFECTIVE DATE.—The amendments made by this section shall apply to distributions required to be made after December 31, 2019, with respect to individuals who attain age 70 ½ after such date. [Emphasis added]