So Required Minimum Distributions, also know as RMDs, are distribution that the Federal Government requires you to withdraw annually after you hit a certain age from some of your retirement accounts. Some common accounts this applies to are your Traditional IRA accounts, SEP IRAs, SIMPLE IRAs and 401(k)s just to name a few. Now you can withdraw more than the RMD amount each year but if you withdraw less than the required minimum, you would then be subject to a federal tax penalty.

Here are 5 ways that the recent SECURE 2.0 legislation bill changes the RMD rules.

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