What you need to know about required minimum distributions (RMDs)

You cannot keep retirement funds in your account indefinitely. You generally have to start taking withdrawals from your IRA, SIMPLE IRA, SEP IRA, or retirement plan account when you reach age 73.

You’re not required to take withdrawals from Roth IRAs, or from Designated Roth accounts in a 401(k) or 403(b) plan while the account owner is alive. However, beneficiaries of Roth IRAs or Designated Roth accounts are subject to the required minimum distribution rules.

Your RMD is the minimum amount you must withdraw from your account each year. You can withdraw more than the minimum required amount.