When must you start taking required minimum distributions (RMDs) from your retirement plan? The IRS answers this and other retirement plan questions in recently updated FAQs. It explains that individuals generally must start taking RMDs from traditional IRAs, SEP IRAs, SIMPLE IRAs and retirement plans when they reach age 72, or age 73 if they reach 72 after Dec. 31, 2022. However, some accountholders in workplace retirement plans can delay taking RMDs until the year they retire. After tax year 2023, designated Roth 401(k) and Roth 403(b) plans will generally no longer be subject to RMD rules. Learn more: https://bit.ly/3FW9hUI
