If you turn 73 at any point in 2026, the IRS now requires you to start withdrawing money from your traditional IRA, 401(k), or similar retirement accounts — these are called Required Minimum Distributions, or RMDs. Your very first RMD can be delayed until April 1, 2027, but every withdrawal after that must be taken by December 31 of each year. Miss the deadline and the penalty is a steep 25% of the amount you should have withdrawn. Getting this right isn’t complicated, but it does require a few key decisions before the calendar flips.

What exactly is an RMD and why does it start at 73?

A Required Minimum Distribution is the minimum amount the IRS forces you to withdraw from tax-deferred retirement accounts each year once you reach a certain age. The logic is straightforward: you got a tax break when you put that money in, and the government eventually wants its cut. Congress raised the starting age from 72 to 73 as part of the SECURE 2.0 Act (passed in late 2022), and it’s scheduled to rise again to 75 in 2033. If you turned 72 in 2023 or earlier, you’re already taking RMDs under the old rules — this article is specifically for those hitting 73 in 2026.

The amount you must withdraw each year is calculated by dividing your account balance (as of December 31 of the prior year) by a life-expectancy factor published in the IRS Uniform Lifetime Table. For most people at 73, that factor is around 26.5, meaning you’d divide your balance by 26.5. A $500,000 IRA, for example, would generate a roughly $18,868 RMD in year one.

Should I take my first RMD now or wait until April 1, 2027?

This is the most common question new RMD takers ask — and the answer depends on your tax situation. You can delay your very first RMD until April 1 of the year after you turn 73. The catch? If you wait, you’ll owe two RMDs in that same calendar year: the delayed first one (due April 1) and the regular second one (due December 31). Two large distributions in one year could bump you into a higher tax bracket and, critically, could trigger Medicare IRMAA surcharges two years later (more on that below). For many people, taking the first RMD in the same year they turn 73 is the cleaner, cheaper choice.

What are the RMD rules for 2025 and 2026?

The core RMD framework stayed consistent between 2025 and 2026. You calculate your RMD using your December 31 prior-year account balance divided by your IRS life-expectancy factor. Each financial institution holding a qualifying account is responsible for calculating and reporting your RMD amount to you, though the responsibility for actually taking it rests with you. If you have multiple IRAs, you can add up all the RMDs and take the total from whichever IRA you choose. 401(k) accounts are different — each one requires its own separate withdrawal. One important update: starting in 2024, Roth accounts inside employer plans (like a Roth 401(k)) are no longer subject to RMDs during the account owner’s lifetime, matching the longstanding rules for Roth IRAs.

How do RMDs affect my Social Security taxes?

This is where things get sneaky. Up to 85% of your Social Security benefit can become taxable depending on your “combined income” — that’s your adjusted gross income, plus any tax-exempt interest, plus half of your Social Security benefit. A large RMD can push your combined income over the thresholds ($34,000 for single filers, $44,000 for married couples filing jointly) and make more of your Social Security taxable overnight. It’s not a reason to panic, but it is a reason to plan. Working with a tax professional to model your income each year before December 31 can help you decide whether strategies like Qualified Charitable Distributions (QCDs) — which let you send up to $105,000 directly from your IRA to a charity, tax-free — make sense for you.

How do I avoid Medicare IRMAA surcharges?

IRMAA stands for Income-Related Monthly Adjustment Amount — it’s a surcharge added to your Medicare Part B (and Part D) premiums if your income exceeds certain thresholds. In 2025, the standard Medicare Part B premium is $185.00 per month, but higher earners pay significantly more. The surcharge is based on your tax return from two years prior, so your 2026 income will determine your 2028 Medicare premiums. A big RMD in 2026 — especially if you’re stacking a delayed first RMD with a regular second one — could quietly push you into an IRMAA bracket you’d never expected. The good news: if your income drops in a later year due to a one-time event, you can appeal your IRMAA using IRS Form SSA-44. Knowing this exists is half the battle.

When should I claim Social Security to maximise my benefit?

If you haven’t claimed Social Security yet and you’re turning 73, this section is for you — though it applies more broadly to anyone still weighing the decision. Every month you delay claiming past your full retirement age (66 or 67, depending on your birth year) earns you an 8% annual delayed credit, up until age 70. After 70, there’s no additional benefit to waiting. If you’re 73 and haven’t claimed, claim now — you’re leaving guaranteed income on the table. If you claimed early, understand that your base benefit is permanently reduced, but you can still manage taxes and Medicare costs strategically around it. The interaction between Social Security timing, RMDs, and IRMAA is exactly the kind of multi-piece puzzle worth mapping out with a fee-only financial advisor or CPA.

A simple RMD action checklist for new 73-year-olds

  • Locate all your tax-deferred accounts — traditional IRAs, rollover IRAs, SEP IRAs, SIMPLE IRAs, and 401(k)s from current or former employers.
  • Get your December 31, 2025, balance statements for each account — your financial institution should have these.
  • Ask your custodian to calculate your 2026 RMD — most major brokerages do this automatically.
  • Decide whether to take your first RMD in 2026 or delay to April 1, 2027 — model the tax impact of each scenario.
  • Consider a Qualified Charitable Distribution if you give to charity and want to reduce your taxable income.
  • Check your 2024 tax return to see if you’re already near an IRMAA threshold — your 2026 income planning starts now.

Turning 73 brings a real administrative to-do list, but none of it is beyond reach. The biggest mistakes people make are missing deadlines, accidentally doubling up distributions in one tax year, and being blindsided by Medicare surcharges two years later. A little planning now puts you comfortably ahead of all three.

Frequently Asked Questions

What are the RMD rules for 2026 if I turn 73 this year?

If you turn 73 in 2026, your first Required Minimum Distribution is due by December 31, 2026 — or you can delay it once until April 1, 2027. Your RMD amount is calculated by dividing your December 31, 2025, account balance by your IRS life-expectancy factor (approximately 26.5 at age 73). Missing the deadline triggers a 25% penalty on the amount not withdrawn.

When should I claim Social Security to maximise my benefit?

The latest you can earn delayed credits is age 70 — after that, waiting provides no additional increase. If you’re already past 70 and haven’t claimed, file immediately since you’re forgoing income with no further upside. For those still deciding between full retirement age and 70, each year of delay adds roughly 8% to your annual benefit permanently.

How much of my Social Security benefit is taxable?

Up to 85% of your Social Security benefit can be taxable depending on your combined income (adjusted gross income + tax-exempt interest + half your Social Security). Single filers with combined income above $34,000 and married couples above $44,000 reach the 85% threshold. RMDs count toward combined income, so a large withdrawal can make more of your benefit taxable.

How do I avoid Medicare IRMAA surcharges?

IRMAA surcharges are added to your Medicare Part B premium when your income — from two years prior — exceeds set thresholds. In 2025, the base Part B premium is $185 per month, but surcharges can add hundreds more. You can reduce exposure by managing RMD size, using Qualified Charitable Distributions, and appealing via Form SSA-44 if a one-time income spike was responsible.

What is the Medicare Part B premium for 2025?

The standard Medicare Part B premium for 2025 is $185.00 per month. Higher-income beneficiaries pay more through IRMAA surcharges, which are based on income reported on your tax return two years earlier. Keeping your 2023 modified adjusted gross income below the IRMAA entry threshold ($106,000 for individuals, $212,000 for couples) keeps you at the standard rate in 2025.