RMD age for 2023 73 now???

[nwtaxlady]

I saw something and want to confirm.... I saw that the RMD requirement age changed to those that turn 73 in 2023.
can someone provide me a link to this please? Thanks. Any anthing else that came out this last week?

[Anarchrist]

https://www.congress.gov/bill/117th-...7B67AC535C6314


SEC. 106. Increase in age for required beginning date for mandatory distributions.

(a) In general.—Section 401(a)(9)(C)(i)(I) of the Internal Revenue Code of 1986 is amended by striking “age 72” and inserting “the applicable age”.

(b) Spouse beneficiaries; special rule for owners.—Subparagraphs (B)(iv)(I) and (C)(ii)(I) of section 401(a)(9) of such Code are each amended by striking “age 72” and inserting “the applicable age”.

(c) Applicable age.—Section 401(a)(9)(C) of such Code is amended by adding at the end the following new clause:
“(v) APPLICABLE AGE.—
“(I) In the case of an individual who attains age 72 after December 31, 2022, and age 73 before January 1, 2030, the applicable age is 73.
“(II) In the case of an individual who attains age 73 after December 31, 2029, and age 74 before January 1, 2033, the applicable age is 74.
“(III) In the case of an individual who attains age 74 after December 31, 2032, the applicable age is 75.”.

(d) Conforming amendments.—The last sentence of section 408(b) of such Code is amended by striking “age 72” and inserting “the applicable age (determined under section 401(a)(9)(C)(v) for the calendar year in which such taxable year begins)”.

(e) Effective date.—The amendments made by this section shall apply to distributions required to be made after December 31, 2022, with respect to individuals who attain age 72 after such date.

[New York Enrolled Agent]

That is not the final version in SECURE Act 2.0 of 2022 which is part of the Consolidated Appropriations Act, 2023.

While it is true the RMD age was increased to 73, the age 74 language is not part of the final bill.

[Rapid Robert]

This is what Spidell (California tax research and education publisher) says:

Increase in mandatory age for RMD beginning dates
The current mandatory age to begin taking required minimum distributions (RMDs) is increased
from age 72 to:
• Age 73 for those who turn age 72 after 2022; and
• Age 75 for those who turn age 74 after 2032.
(SECURE 2.0 Act ?107; IRC ?401(a)(9)(C)(i)(I))

[TaxGuyBill]

Any anthing else that came out this last week?

This is a good summary.

https://www.finance.senate.gov/imo/media/doc/Secure%202.0_Section%20by%20Section%20Summary%2012-19-22%20FINAL.pdf

Here is the actual law, and the section about RMDs.

https://www.congress.gov/bill/117th-congress/house-bill/2617/text

https://www.congress.gov/117/bills/hr2617/BILLS-117hr2617enr.pdf#page=831