What are retirement distributions after age 70 ?

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RMD stands for required minimum distribution. It's the minimum amount of money you're required to take out of your retirement plan once you turn 70 1/2.

RMD rules apply to all employer-sponsored retirement plans such as pensions, profit-sharing, 401(k), 403(b), and 457(b) plans, as well as Traditional IRAs and IRA-based plans such as SEPs, SARSEPs, and SIMPLE IRAs. However, RMDs aren't required for Roth IRAs while the owner is still alive.

Your 1099-R issuer is required to follow RMD rules and regulations, so if you received a distribution and you're at least 70 1/2 years young, you can be almost certain you received an RMD. Check with your plan administrator if you're still not sure.

Related information: Where do I enter my 1099-R?

Source:TurboTax FAQ

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