Required minimum distributions

Before you get started

A required minimum distribution (RMD) is the minimum amount the Internal Revenue Service (IRS) requires you to withdraw from your tax-deferred retirement account(s) annually. For IRAs, the IRS requires you to begin taking RMDs once you reach age 73. For some retirement accounts, including 403(b)s, you must generally begin taking RMDs when you reach age 73 or the year in which you retire, if later.

Things to consider

  • If you have multiple tax-deferred retirement accounts, your RMD must be calculated for each account
  • The total amount of your RMD must be taken annually by December 31. First-time RMDs must be taken by April 1 of the year after you turn age 73.
  • If you fail to take your total RMD amount in a year, you may be subject to a 25% tax penalty on any amount that wasn’t withdrawn
  • RMDs are included in taxable income, except for any part that was already taxed (nondeductible contributions) or that can be received tax-free, such as qualified distributions from designated Roth accounts* 
  • Federal and state income taxes can be withheld at the time of your distribution. Consult your tax advisor to determine the appropriate amount of taxes to be withheld.

* Effective in 2024, investors with Roth 401(k)s or 403(b)s are no longer required to take lifetime RMDs from those accounts. Distributions from employer Roth accounts are more in line with traditional (non-employer) Roth IRAs, which do not require distributions until after the death of the account owner.

Popular tasks

Automate your RMD

Have Capital Bank and Trust Company (CB&T) calculate and send your RMD, annually.

Calculate your RMD

Find your IRS life expectancy factor and how to calculate your RMD amount for a year.

Take your RMD

See your options when taking an RMD from your CB&T IRA.


Find answers to common questions about RMDs.

Required minimum distributions brochure

The brochure provides helpful information about RMDs, including why you need to take a distribution, exceptions to the RMD and what to do when you are ready to take your RMD.

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Retirement distributions

Review regulations, including IRS taxes and penalties, on distributions from retirement plans, including RMDs.

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