A required minimum distribution is the minimum amount you must withdraw from your account each year. The IRS requires that you take a distribution from your IRA, SIMPLE IRA, SEP IRA, or retirement plan account after the age of 72 (70 ½ if you reached 70 ½ before January 1, 2020), due to changes made by the SECURE Act.

You are able to take your RMD at any time during the year. We do ask that you complete your RMD by November of each year for in-kind distributions and December for cash distributions to avoid delays.

Choice recommends you speak with a tax advisor for questions about distributions and your RMD requirements.