2023 Required Minimum Distributions 1

2023 Required Minimum Distributions

If you have an IRA or 401k and you are over 70 1/2-year-old, you need to take a required minimum distribution, or RMD, from your retirement account each year. However, with the coronavirus pandemic, Congress passed specific relief for certain kinds of retirement accounts creating different rules for your 2023 …

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RMD Rules Required Minimum Distributions Guide

Why Are There RMDs or Required Minimum Distributions? Required minimum distributions, or RMD, is the minimum amount you must withdraw from certain retirement accounts each year. To understand why there are RMDs, it helps to look at things from the government’s perspective. The government runs by collecting tax dollars. However …

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