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Required Minimum Distributions (RMD's)

Published on 12/4/2017
Required Minimum Distributions From Retirement Accounts

Don't forget to take your Required Minimum Distributions  (RMDs) from your retirement accounts (IRAs, SEP IRAs, 401Ks etc.) by Friday, Dec. 29th this year  in order to avoid a 50% penalty if you are 70.5 or older.  There are some exceptions (e.g. i) the RMD due dates are different for the year you turn 70 so check the specific due dates,  2) if you are still working at your employer and have a 401K account with that employer, or 3) if you have Roth accounts). 

You can estimate your RMDs at Estimate RMD's - Vanguard, but you or your financial advisor or institution will need to calculate the exact amount using IRS worksheets.  

An excellent summary of some important facts regarding RMDs is available at RMD Facts - NY Times.

For details about distributions from various types of retirement accounts, see the following IRS website links: 
IRS RMD Comparison
IRS RMD FAQ

You can obtain all forms and publications at:

IRS RMD Forms