What is a Required Minimum Distribution (RMD)?
After you turn age 73, you're generally required to take withdrawals from your IRAs and other qualified retirement plans. This also applies to certain inherited retirement accounts if the account owner was above the required age. The required minimum distribution (RMD) is the minimum amount you must withdraw from your account each year. This can apply whether or not you are still working.
If you didn't receive the minimum distribution amount in the year you reach age 73, you have until April 1st of the year following the year you reach age 73 to take it.
The IRA custodian or retirement plan administrator often calculates the RMD, but the responsibility for taking out the RMD each year is ultimately on the account owner (you the taxpayer). This applies to all accounts, which may require contacting more than one plan administrator.
Qualified charitable distributions count toward your RMD.
Any distributions you receive during 2025 will be reported to you on a Form 1099-R.
In general, you're required to take an RMD if either of the following applies to you:
Typically, you should start minimum distributions by April 1st of the year following the year you reach age 73. However, if you turned 72 in 2022, you're required to take RMDs in 2023, because you're subject to the 2022 rules.
You can't keep funds in a traditional IRA (including SEP and SIMPLE IRAs) indefinitely. Eventually, you'll be required to either receive your entire interest in the IRA or begin receiving periodic distributions.
The date by which you must start receiving distributions from your qualified retirement plan is called the required beginning date. If you don't take the RMD each year after the required beginning date, you may have to pay an excise tax on the amount not distributed.
If you have more than one IRA, you can take the RMD from any one or more of the IRAs (other than Roth IRAs). The requirements for distributing IRA funds differ, depending on whether you are the IRA owner or the beneficiary of a deceased person's IRA.
Roth IRAs: If you're the owner of a Roth IRA (including a Roth 401(k) beginning in 2024), you don't need to take a RMD during your lifetime. However, RMD rules apply to an inherited Roth IRA.
Can I convert or rollover RMDs?
Do I need to take a distribution for an inherited IRA?
If you didn't receive the minimum distribution amount in the year you reach age 73, you have until April 1st of the year following the year you reach age 73 to take it.
The IRA custodian or retirement plan administrator often calculates the RMD, but the responsibility for taking out the RMD each year is ultimately on the account owner (you the taxpayer). This applies to all accounts, which may require contacting more than one plan administrator.
Qualified charitable distributions count toward your RMD.
Any distributions you receive during 2025 will be reported to you on a Form 1099-R.
In general, you're required to take an RMD if either of the following applies to you:
-
You're the owner of a traditional IRA or other qualified retirement plan
and you were older than 73 in 2025
or the year in which you retire (such as for a 401(k) plan). - You're the beneficiary of a deceased person's IRA.
Typically, you should start minimum distributions by April 1st of the year following the year you reach age 73. However, if you turned 72 in 2022, you're required to take RMDs in 2023, because you're subject to the 2022 rules.
You can't keep funds in a traditional IRA (including SEP and SIMPLE IRAs) indefinitely. Eventually, you'll be required to either receive your entire interest in the IRA or begin receiving periodic distributions.
The date by which you must start receiving distributions from your qualified retirement plan is called the required beginning date. If you don't take the RMD each year after the required beginning date, you may have to pay an excise tax on the amount not distributed.
If you have more than one IRA, you can take the RMD from any one or more of the IRAs (other than Roth IRAs). The requirements for distributing IRA funds differ, depending on whether you are the IRA owner or the beneficiary of a deceased person's IRA.
Roth IRAs: If you're the owner of a Roth IRA (including a Roth 401(k) beginning in 2024), you don't need to take a RMD during your lifetime. However, RMD rules apply to an inherited Roth IRA.
Can I convert or rollover RMDs?
Do I need to take a distribution for an inherited IRA?
