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Investors are generally required to begin taking annual RMDs from IRAs and retirement plans upon reaching age 70 1/2. Yet as a result of current market conditions, many investors may be reluctant to take their 2009 mandatory distributions. In order to provide some relief to investors in this situation, the IRS has ruled that they may postpone their 2009 RMDs (Required Minimum Distributions), or take them and, in most cases, roll them over to an IRA or eligible retirement plan.
Am I Affected?
If you fall into one of the following categories, you are eligible to take advantage of this IRS ruling:
- You are already taking RMDs
- You are turning age 70 1/2 in 2009
- You are a beneficiary of an IRA or retirement plan
