Required minimum
distributions are the smallest amount you can withdraw from your account to
avoid penalties, and your 70½th birthday is the triggering start date. That's
defined as six months after your 70th birthday.
As an example,
if your actual birthday was in July 2014, you'll turn 70½ in January 2015. That
means you don't have to take a minimum distribution for 2014. Instead, you're
required to take your first minimum distribution no later than April 1, 2016.
After the first distribution, you must complete each annual withdrawal by
December 31.
