Required minimum distributions (RMDs) are the minimum amounts you must withdraw from your retirement accounts each year beginning at age 73.

In general, you must start taking withdrawals from your traditional IRA, SEP IRA, SIMPLE IRA, and retirement plan accounts when you reach age 73.

If you participate in a workplace retirement plan (for example, 401(k) or profit-sharing plan), you can delay taking your RMD until the year you retire, unless you’re a 5% owner of the business sponsoring the plan.

Your withdrawals are included in taxable income except for any part that was already taxed (your basis) or that can be received tax-free (such as qualified distributions from designated Roth accounts).

When is the deadline for taking my Required Minimum Distribution?

If you reach age 73 in 2026:

Your first RMD (for 2026) is due by April 1, 2027, based on your account balance on December 31, 2025;

Your second RMD (for 2027) is due by December 31, 2027, based on your account balance on December 31, 2026.

This means you might have two distributions in 2027, one due April 1 and the other by December 31. In some cases, this could move you into a higher tax bracket in 2027, so it’s perfectly acceptable to take your 2026 RMD in 2026.

Subsequent RMDs are due by December 31 each year based on the account balance at the end of the previous year.

You can withdraw more than the required amount.

How do I know how much to withdraw?

Your RMD is calculated using three pieces of information:

Your account balance on December 31 of the appropriate year (the end of the year preceding the year for which the RMD is being calculated).
Your age.
The IRS factor assigned to your age, based generally on life expectancy.

IRS Publication 590-B, Distributions from Individual Retirement Arrangements, provides worksheets for calculating your RMD (starting on page 46), but the administrator of your retirement plan or IRA trustee should calculate and report the amount to you each year. If you haven’t heard from them in the year in which you attain age 73, check to ensure the distribution is scheduled to be made before the deadline.

What if I miss the deadline?

Penalties for a missed RMD are steep – a 25% excise tax applies to the undistributed amount (10% if corrected within two years). So it’s worth paying attention to!

Are there any options for reducing the taxable amount of my RMD?

You can make a qualified charitable distribution (QCD), which is a nontaxable distribution made directly by the trustee of your IRA to an eligible organization. This can be a win-win situation, where the charity benefits and you can support a charitable organization of your choice while reducing your taxable income.

QCDs are not allowed to be made from a workplace retirement plan such as a 401(k).

A QCD must meet the following guidelines:

The taxpayer must be at least 70 1/2 years old on the day of the distribution.

The QCD will count toward the RMD amount.

The taxpayer must have an acknowledgement of the contribution.

The amount of the QCD can’t be more than the amount of the distribution that would count as income.

The maximum annual exclusion for QCDs in 2026 is $111,000 (adjusted annually for inflation). If you file a joint return, your spouse can also have a QCD and exclude up to $111,000 for a combined total of $222,000. Any QCD more than $111,000 counts as income.

You can also use up to $55,000 of a QCD to make a one-time donation to a charitable remainder trust (CRT) or charitable gift annuity (CGA). Married couples can each donate $55,000 to these.

QCDs cannot be used to fund donor-advised funds or private foundations. They must be made directly from an IRA to a qualified public charity.

What’s different about QCDs in 2026?

The One Big Beautiful Bill Act (OBBBA) limits itemized charitable contributions to stricter limits, including a 0.5% AGI floor. For instance, if your AGI is $160,000, you can only deduct donations that exceed $800 ($160,000 x 0.5%). So if you donate $24,000 to a nonprofit, you can only deduct $23,200.

In contrast, QCDs are an “above-the-line” exclusion from income, making them a more tax-efficient way to give compared to traditional deductions.

Taxpayers who do not itemize are allowed under the OBBBA to deduct up to $1,000 ($2,000 for joint filers) for charitable contributions.