Consequence for failing to take required minimum distributions

If you do not take any distributions, or if the distributions are not large enough, you may have to pay a 50% excise tax on the amount not distributed as required.

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Required Minimum Distributions (RMDs)

You cannot keep retirement funds in your account indefinitely. You generally have to start taking...

Do these rules apply to my retirement plan?

The minimum distribution rules apply to: traditional IRAs SEP IRAs SIMPLE IRAs 401(k) plans...

Calculating the required minimum distribution

The required minimum distribution for any year is the account balance as of the end of the...

Beginning date for your first required minimum distribution

IRAs (including SEPs and SIMPLE IRAs) April 1 of the year following the calendar year in...

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...