2024 Required Minimum Distributions – Due Date

RMDs are required for everyone with IRAs and 401(k)-type accounts (but not defined benefit plans) age 73 or older.

If you inherited an IRA prior to 2020, you are required to take a distribution every year, regardless of age.  If you inherited an IRA in 2020 or later, you are still required to take a distribution every year, and you are required to distribute the full balance of the account within 10 years.  Ask your advisor about your plan for distributing your inherited IRA.