Whats a required minimum distribution (RMD)?
Once you reach age 70½, you must withdraw at least a minimum amount—your required minimum distribution—each year from your tax-deferred retirement savings accounts. This includes your IRAs (with the exception of Roth IRAs) and any qualified retirement accounts you hold with a former employer. Generally, you must take your first RMD by April 1 of the calendar year following the year you turn 70½. (Participants in employer plans who are still working at age 70½ can wait until April 1 of the calendar year following the year they retire.) For each subsequent year, you’ll need to take your annual RMD by December 31.
