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Required Minimum Distribution (RMD) : April 1 Deadline for some

Last Updated March 26, 2017

Generally, you are required to take a required minimum distribution (RMD) from your traditional IRAs, SEP IRAs and SIMPLE IRAs for the year in which you reach age 70 ½ and every year after.

While RMDs are generally required to be taken by 12/31 of the year for which they are due, the RMD for your 70 ½ (the year in which you reach age 70 ½) year can be taken as late as April 1 of the following year.

This means that if you reached age 70 ½ at any time during last year, your RMD for last year must be taken by April 1 of this year.

If you fail to take your RMD by the deadline, you will owe the IRS an excess accumulation penalty of 50% of the RMD shortfall.

Be sure to contact your IRA custodian to have your RMD distributed by the deadline.

 If you miss your RMD deadline, see the article What to Do If You Missed Your RMD Deadline