New in 2023: Required Distribution Ages for Retirement Accounts

A&I Wealth Management > Blog > New in 2023: Required Distribution Ages for Retirement Accounts

At the end of 2022, Congress passed over 90 new tax laws. One of the most important new rule changes is a change in the requirement to pull money out of your retirement account (IRA, 401k, etc.).

The quick and easy way to remember the new rule is to remember the 1950’s. More on this in a minute.

Individual Retirement Accounts, IRAs, are set up to provide Americans with a source of retirement assets and income after they are done working. You may pull money out of an IRA after age 59 ½ without any sort of a tax penalty. If you have a traditional IRA, then you must pay income tax on the withdrawal. If you have a Roth IRA, then your withdrawal is tax-free.

The government forces you to make a withdrawal from a traditional IRA at a certain age. Many of us remember the previous age, under the old rules. It was memorable perhaps because it was so strange: age 70 ½. This is no longer the case. The new age for a required distribution depends upon the year in which you were born.

The following table summarizes the Required Minimum Distribution age:

The year that someone is born affects their Retirement Distribution Age.

The quick and easy way to remember the RMD age is to remember the 1950’s. If you were born between the years of 1951 and 1959, then the first year you have to take a required distribution is your age 73. If you are younger, then your RMD starts at age 75. If you are already taking your distribution, then you must continue to take your distribution. No change for you!

For a more complete understanding of retirement accounts, including RMDs and other rules, visit our website:

  1. RMDs: Explanation and Thorough FAQs:
  2. Search our web site for even more information

If you would like to skip the details and see what other tax rules for 2023 affect you, then set up an appointment with your wealth manager!

About the author

Karl Frank, Certified Financial Planner ®, MSF, MBA, MA, is the President of A&I Financial Services LLC, a local business that specializes in wealth management, insurance planning, and retirement planning. Karl cares for business owners and the businesses that care for them. Learn More about Karl.