For anyone who is age 70.5 or older with an IRA, retirement plan, or a Roth IRA, you are required to take a required minimum distribution. A required minimum distribution is a required withdrawal of your retirement account. If you are required to take a minimum distribution, you must do so before April 1 of this year if this is the first year you were 70.5 or older. Otherwise, you must take your minimum distribution on or before December 31 of this year.
If you are having tax issues or are not familiar with required minimum distributions, contact our law office at 816-524-4949 or www.Hoorfarlaw.com.