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If you own more than 5% of the business sponsoring the plan, then you must begin receiving...
Beginning date for your first required minimum distributionIRAs (including SEPs and SIMPLE IRAs) April 1 of the year following the calendar year in...
Calculating required minimum distributions for designated beneficiariesGenerally, for individuals or employees with accounts who die prior to January 1, 2020,...
Calculating the required minimum distributionThe required minimum distribution for any year is the account balance as of the end of the...
Consequence for failing to take required minimum distributionsIf you do not take any distributions, or if the distributions are not large enough, you may have...
Date for receiving subsequent required minimum distributionsFor each year after your required beginning date, you must withdraw your RMD by December 31. For...
Date that you turn 70½ (72 if you reach the age of 70 ½ after December 31, 2019)You reach age 70½ on the date that is 6 calendar months after your 70th birthday. Example: You...
Do these rules apply to my retirement plan?The minimum distribution rules apply to: traditional IRAs SEP IRAs SIMPLE IRAs 401(k) plans...
Required Minimum Distributions (RMDs)You cannot keep retirement funds in your account indefinitely. You generally have to start taking...
Required minimum distributions after the account owner diesFor the year of the account owner’s death, use the RMD the account owner would have received. For...
Terms of the plan governA plan may require you to begin receiving distributions by April 1 of the year after you reach...
