The original SECURE Act of 2019 extended the Required Minimum Distribution (RMDs) age from 70½ to 72 for retirement accounts.
Now with the passing of the Omnibus Bill, SECURE Act 2.0 extends the RMD beginning date to age 73, starting in 2023.
Not only does the new legislation push back the required minimum distribution age, but penalties for not taking withdrawals are also changing – and changing in investors’ favor.
