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Posted

Hi, hope all of you are going great.

 

I’ve a question regarding required minimum distribution (RMD) and the scenario as follows:

Plan Year: 12/31/2022

Participant’s age as of 12/31/2023 turned to 72

Does he/she need to take RMD in 2022 Plan Year? Or he/she will be eligible to take RMD in 2023 Plan Year (turns on his 73th)

 

Appreciate your insights.

Posted

If I'm reading your post correctly, this participant would have been born on or after 1/1/1951? If so, then RBD is based on age 73.  Assuming born during 1951, then age 73 would be during 2024. So RBD for the 2024 year could be as late as 4/1/2025.

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