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The minimum amount you must withdraw each year from certain retirement accounts starting at a set age.
RMDs are mandatory annual withdrawals from tax-deferred accounts like Traditional IRAs and 401(k)s, beginning at age 73 under current rules. The amount is your account balance divided by an IRS life-expectancy factor. Missing an RMD triggers a steep penalty. Roth IRAs have no RMDs during the owner's lifetime.
At 73, a retiree divides their IRA balance by the IRS factor to find that year's required withdrawal.
RMDs force you to withdraw money from pre-tax retirement accounts starting at 73 — and if you ignore them, the penalty is severe. Here is what you need to know and how to manage them strategically.
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