The SECURE Act revised IRA withdrawal rules, raising the RMD age from 70.5 to 72 and allowing QCDs from inherited IRAs for those 70.5+.

The SECURE Act revised IRA withdrawal rules and Qualified Charitable Distributions (QCDs). The age limit for tax-free IRA withdrawals to qualified charities remains at 70.5. The age for starting required minimum distributions (RMDs) from retirement accounts increased from 70.5 to 72 and will reach 73. If a person inherits an IRA, they can take QCDs if they're 70.5 or older, but if younger, they must wait. QCDs from inherited IRAs trigger income taxes. Alternative tax-efficient methods include writing a check from a non-IRA account. A maximum QCD amount increase is set to begin in 2024, with the limit at $105,000 for 2024, and each spouse can make their own QCD if they meet the requirements. Consulting with a tax advisor or accountant is advised before taking any action on RMDs, QCDs, charitable gifting, or taxes.