Required Minimum Distributions (RMDs)
You are allowed to start taking distributions from your IRA accounts when you reach age 59 ½, but at some point you have to start taking distributions. For IRA, Simple IRA, and SEP IRA accounts you have to start taking distributions when you reach age 70 ½. Roth IRAs do not require minimum distributions until after the death of the owner.
Your required minimum distribution is the amount you have to withdraw from your account each year. Your RMD is based on your life expectancy and the balance of your account.