Dr. Ed - Former SSA Manager

If you turned 73 last year, your first Required Minimum Distribution has a special deadline—and it's coming up fast.

Most retirees must take their RMD by December 31st every year. But your very first RMD? You get until April 1st of the year after you turn 73.

Here's the trap: if you wait until April to take that first distribution, you'll owe taxes on TWO distributions in one calendar year—your delayed first RMD and your second RMD (due by December 31st). That double withdrawal can push you into a higher tax bracket, trigger IRMAA surcharges on Medicare (kicking in at $109,000 for singles), and even affect your Social Security taxation.

Here's what to do: If you're in your first RMD year, run the numbers with your tax preparer before April 1st. Compare taking it now versus waiting—and factor in how a second RMD later this year will affect your total taxable income.

Missing the deadline entirely? The IRS penalty dropped to 25% under SECURE 2.0—but that's still a massive hit.

Did you take your first RMD in the same year you turned 73, or did you use the April extension? What would you tell someone facing this decision now?