Series 24: Required Minimum Distributions (RMDs)

Required Minimum Distributions (RMDs)

Required minimum distributions refer to the amount of money that must be taken out of a qualified retirement account starting the year in which the account holder turns 70 1/2 years old. The minimum amount is determined by the account holder’s life expectancy, as found on tables the IRS develops, and the amount in the account.

In general, the IRS requires a retirement account owner to begin takin