If that's you, you still have to take your first RMD by Dec. 31, 2024. Second, if you wait to take your first RMD until 2025, you will have to take two RMDs that year -- one for 2024 and one for 2025.

Starting in 2024, the RMD age moved up to 73, giving account holders another year to keep their money growing tax-deferred. If you were born between 1951 and 1959, you must begin your RMDs at 73.

2 New Required Minimum Distribution (RMD) Rules Everyone Must Know Before 2025. By Trevor Jennewine – Dec 16, 2024 at 5 ... As of 2024, RMDs are no longer required for Roth 401(k) ...

Lower your RMD by up to $105,000 with a charitable distribution. ... The IRS increased the limit for QCDs in 2024 to $105,000, up from $100,000 previously. Note that this rule only applies to IRAs.

There are potential penalties for not taking your RMD or taking less than you’re required to. Currently, the IRS imposes a penalty of 25% of the amount you didn’t take.

If that's you, you still have to take your first RMD by Dec. 31, 2024. Second, if you wait to take your first RMD until 2025, you will have to take two RMDs that year -- one for 2024 and one for 2025.

You may have already met your RMD requirement for the year, depending on how much you withdrew from your retirement accounts this year. Taking Your First Required Minimum Distribution (RMD) in ...