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Frequently Asked Questions

When must I start required minimum distributions?

This requirement is called a required minimum distribution, or RMD. Your first RMD must occur by April 1st of the year after you reach age 70 ½, but most people will find it most tax-efficient to take their first distribution in the year they reach age 70 1/2. Example: Bob’s birthday is in February.

When do I take required minimum distribution?

Your Results. Based on the information you provided, the estimated required minimum distribution is shown below. Required minimum distributions generally must begin no later than April 1 of the year following the year in which you turn 70½. They must be taken by December 31 of each year thereafter.

How do you calculate the minimum required distribution?

The required minimum distribution is calculated by dividing the account balance at the end of the previous year by a minimum distribution factor.

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