Required Minimum Distribution (RMD)

Required Minimum Distribution (RMD): The Required minimum distribution (RMD) is the minimum amount you must withdraw from your US retirement account each year. You can withdraw more than the minimum required amount. Your withdrawals will be included in your taxable income except for any part that was taxed before (your basis) or that can be received tax-free (such as qualified distributions from designated Roth accounts).The minimum distribution rules apply to original account holders and their beneficiaries in these types of plans:

• Traditional IRAs
• SEP IRAs
• SIMPLE IRAs
• 401(k) plans
• 403(b) plans
• 457(b) plans
• Profit sharing plans
• Other defined contribution plans
• Roth IRA beneficiaries

For more information about RMDs, please visit the IRS website: https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-required-minimum-distributions-rmds