In most cases, taxpayers who turned 70 1/2 during 2017 must start receiving required minimum distributions (RMDs) from Individual Retirement Accounts (IRAs) and workplace retirement plans by Sunday, April 1, 2018.
The April 1 deadline applies to owners of traditional (including SEP and SIMPLE) IRAs but not Roth IRAs. Normally, it also applies to participants in various workplace retirement plans, including 401(k), 403(b) and 457(b) 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. In other words, a taxpayer who turned 70 1/2 in 2017 (born after June 30, 1946, and before July 1, 1947) and receives the first required distribution (for 2017) on April 1, 2018, for example, must still receive the second RMD by December 31, 2018.
Affected taxpayers who turned 70 1/2 during 2017 must figure the RMD for the first year using