Overview
- Required minimum distributions currently begin at age 73, are taxable, and generally apply to traditional IRAs and most employer plans, while Roth IRAs are exempt during the owner’s lifetime.
- The first required withdrawal is due April 1 of the year after turning 73, with all later years due by December 31, which can produce two taxable distributions in one year if the first is delayed.
- RMDs from multiple traditional IRAs can be aggregated and taken from one IRA, but workplace plans such as 401(k) and 457(b) require separate calculations and withdrawals for each account.
- Those still working who own less than 5% of their employer can often defer plan withdrawals if the plan allows, but IRAs and accounts from former employers still require distributions.
- Custodians may calculate annual amounts, yet the account holder is responsible for accuracy and on‑time withdrawals, with planning options like Roth conversions, qualified charitable distributions, and QLACs to manage taxes.