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Can I Avoid Taking My RMD After Reaching My Required Beginning Date (RBD)?

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Retirement / Decumulation, Tax Planning, Assets and Investment Planning
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**This guide has been updated to incorporate new changes made by The SECURE Act 2.0 that are effective for the 2023 year. Any SECURE Act 2.0 changes that are effective for 2024 will be incorporated into this guide at the start of the 2024 year. 

The rules surrounding RMDs (Required Minimum Distribution) are complicated and often require a few conversations with clients to help them understand the issues that must be considered.

To help make this easier, we have created the “Can I Avoid Taking My RMD After Reaching My Required Beginning Date (RBD)?” flowchart. This flowchart addresses common questions about RMDs for clients that have reached RMD age, including:

  • What to do if a client forgot to take an RMD
  • How the RMD is calculated
  • How to handle multiple retirement accounts
  • Which RMDs can be combined and which ones can not
  • Considerations if the client is still working or a business owner

 

Updated 1/19/2023


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