RMD Reminder

Summertime provides an opportunity to assist clients with planning for their required minimum distributions (RMDs) from retirement accounts. While this applies for all clients who are subject to RMDs, it is especially true for those who reach age 73 during the current tax year.

Those reaching age 73 during 2025 generally have until April 1, 2026 to take their first RMD; however, waiting until 2026 to take the RMD for the 2025 tax year will result in a doubling up of RMDs in 2026, since the RMD for the 2026 tax must be taken by December 31, 2026.

For clients taking their first RMDs for the 2025 tax year, if you have not already spoken with them about the RMD amounts and any needed income tax withholding from those amounts, now is a good time to speak with them.

The final regulations regarding required minimum distributions were issued during 2024 and are now effective, as we discussed in last year’s seminars.