Filed under: Retirement

April-1-Alert-Required-Minimum-Distributions April 1 Alert! - Required Minimum Distributions

 

Retirees who turned 70 ½ in 2017 must take their first Required Minimum Distribution from their IRA or their employer-sponsored retirement plan no later than April 1, 2018.

 

Account owners of Traditional IRAs, SEPs, and SIMPLE IRAs must take their first Required Minimum Distribution no later than April 1 of the calendar year following the calendar year in which the owner attains age 70 ½.

 

Participants in 403(b), 401(k), and 457(b) plans must take their first Required Minimum Distribution no later than April 1 of the calendar year following the later of:

  1.  the calendar year in which the participant attains age 70 ½, or

  2.  the calendar year in which the participant retires (special rule for 5% owners).

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