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What is an RMD, and when am I required to start taking it?

RMD stands for Required Minimum Distribution. It is a portion of your IRA to be withdrawn when you reach age 70½. The IRS mandates this withdrawal on most qualified annuities. The beginning date for your first RMD is April 1 of the year following the calendar year in which you reach age 70½. For each year following this initial year, the IRS mandates that you must withdraw your RMD by December 31. 

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