Generally, beginning at age 73, retirement account holders must take Required Minimum Distributions (RMDs) from their tax-deferred retirement accounts, including Traditional, Rollover, SEP, and SIMPLE IRAs and employer sponsored retirement plans. These distributions are subject to federal, and sometimes state, income taxes. RMDs are not optional. If you don’t take your RMD, or take out too little, you may face an IRS penalty tax of 25% of the amount not distributed. Read more to find out ways to put your RMD to work: Put Your RMD to Work May 2025 Stroll Magazine
