If You Turned 72 This Year Your IRA RMD Is Waived

The Secure Act signed at the end of 2019 increased the IRA required minimum distribution (RMD) age from 70 1/2 to 72. However, the CARES Act passed earlier this year also waived RMD’s for individuals that turned 72 in 2020. Therefore, individuals that turned 72 this year would have until the end of 2021 to take their first RMD.