To avoid an additional tax, participants in retirement plans must begin taking a Required Minimum Distribution (RMD) by a specified date. That date is April 1 of the calendar year that follows the later of two events—the year the taxpayer:

• Reached age age 72 (73 if they reach age 72 after Dec. 31, 2022) or retires, whichever is later
• For traditional, SEP and SIMPLE IRAs, it does not matter whether the taxpayer has retired.

These rules do not apply to Roth IRAs.

Note: If the taxpayer reaches age 73 in 2023, they were 72 in 2022 and subject to the age 72 RMD rule in effect for 2022. If the taxpayer reaches age 72 in 2022, their first RMD is due by April 1, 2023, and their second RMD is due by December 31, 2023.

Note: If the taxpayer reaches age 72 in 2023, the required beginning date for their first RMD delayed until April 1, 2025. They must take another RMD by December 31, 2025.

RMDs are reported on Form 1099-R and are included on the return. Review Publication 4491,Retirement Income lesson to review Required Minimum Distributions (RMD).