Hi @Loraine9,
For the first year following the year you reach age 72, you will generally have two required distribution dates: an April 1 withdrawal for the year you turn 72 and an additional withdrawal by December 31. Please ensure to take the correct distribution amounts. If you don’t take any distributions, or if the distributions are not large enough, you may have to pay a 50% excise tax on the amount not distributed as required.
Below are some additional resources regarding RMDs :
Retirement Topics — Required Minimum Distributions (RMDs)
Tax Counseling for Seniors
Thank you!
