Taxpayers who turned 70½ during 2017 in most cases must start receiving required minimum distributions (RMDs) from Individual Retirement Accounts (IRAs) and workplace retirement plans by April 1, 2018.
The April 1 deadline applies to owners of traditional IRAs but not Roth IRAs. Normally, it also applies to participants in various workplace retirement plans, including 401(k), 403(b) and 457 plans. The April 1 deadline only applies to the required distribution for the first year. For all subsequent years, the RMD must be made by December 31. So, a taxpayer who turned 70½ in 2017 and receives the first required payment on April 1, 2018, for example, must still receive the second RMD by December 31, 2018.
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