What is an RMD?
(required minimum distribution)
Here are 5 steps to calculating your RMD. This is the minimum amount that must be withdrawn from a retirement account each year.
When are you subject to RMDs?
Traditional IRA owners are subject to RMDs beginning in the year in which they turn 70½. Beneficiaries of IRAs and/or Roth IRAs are subject to RMDs beginning in the year after the year of the IRA (or Roth IRA) account owner’s death.