Keyword Analysis & Research: required minimum distribution age ira


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Frequently Asked Questions

What age must you take IRA distribution?

Normal distributions from your IRA are allowed after you reach age 59½. At this age, you may begin making voluntary withdrawals. Once you have reached the age of 70½, however, you are required by law to take distributions.

When must I start required minimum distributions?

This requirement is called a required minimum distribution, or RMD. Your first RMD must occur by April 1st of the year after you reach age 70 ½, but most people will find it most tax-efficient to take their first distribution in the year they reach age 70 1/2. Example: Bob’s birthday is in February.

What is the minimum age requirement for an IRA?

There is no minimum age requirement for an IRA, since a minor can have an IRA under certain conditions. ... The IRA for Minors is an individual retirement account set up for minors—those under age 18—by their parents or guardians.


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