What types of retirement plans have required minimum distributions (RMD)?

A qualified retirement saving plan is a savings plan provided by employers that also complies with government requirements intended to protect employees. RMD rules apply to all employer sponsored retirement plans, as well as traditional IRAs and IRA-based plans.

Qualified retirement plan accounts include the following:

• Traditional IRAs
• SEP IRAs
• SARSEP
• SIMPLE IRAs
• 401(k) plans
• 403(b) plans
• 457(b) plans
• Profit sharing plans
• Other defined contribution plans

You'll generally need to take a Required Minimum Distribution (RMD) from these accounts after you turn 73. Roth IRAs, including Roth 401(k)s, don't require withdrawals until after the death of the owner.

If you need to enter information for an RMD, we'll ask you about it after you enter the 1099-Rs you received.