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In For follow up Question 39 of 50. Jack reached age 70% in December of 2018. Jack is required to in December of 2018. Jack i
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Answer #1

Hi Friend,

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I have tried to give the best possible answer. If you have any doubts, please mention in the comment section. I'll definitely respond in early possible time.

Ans:

  • April 1, 2019

Justification:

SECURE Act, 2019 became law on December 20, 2019. where it is clearly defined that if any-one reached 701/2 in 2020 or later they must take their first RMD by April 1 of the year after they reach at the age 72. In earlier law, it was mentioned that if any-one reaches 701/2 in 2019 or earlier, they must take their RMD by April 1 of the next year.

In the given case, Jack reached 701/2 in 2018, hence the prior rule shall apply and he can take RMD by April 1, 2019.

Thanks, Dear... Have a Wonderful Day.

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