May someone take RMD before age 70 1/2?

[Richard Anderson]

Owner will turn 70 1/2 on Decembr 27, 2002. May she take the first required minimum distribution in 2002 before December 27?

[Michael Devault]

It's my understanding that, since 2002 is her first distribution calendar year, she could take the distribution at any time during 2002 and include it in her income for 2002.

Alternatively, she could wait until April 1 of 2003 to take the distribution, which would be included in income for 2003.

Hope this helps.

[david rigby]

Of course. But what does the plan say?

BTW, since the second distribution is due 12/31/2003, it might be worth considering taking the first in 2002.

[Richard Anderson]

Thanks Michael and pax.

I'm fairly sure that she will want to distribute the 2002 minimum in 2002. But, I do so few minmum distributions, that I couldn't remember if the first distribution had to occur after age 70 1/2, or if it could be taken anytime in the calendar year, even if before age 70 1/2.