What Is Your Required Beginning Date?
If you are an IRA owner, you must begin taking required minimum distributions (RMDs) from your IRA. For your very first RMD only, the IRS gives you an option. You have until April 1st of the year following the year you turn 70½ to take your first RMD. That is your Required Beginning Date (RBD).
Keep in mind that delaying your very first RMD is an option, but if you choose to delay until the year following the year you turn 70½, you still have to take your regular RMD for that year. Yes, this means if you delay your first, you will need to take two RMDs that year.
Example: you turn 70½ in 2019 and delay taking your first RMD until February 1, 2020. You will still have to take your regular RMD by December 31, 2020.
The regular RMD deadline is December 31st each year. This deadline applies to IRA beneficiaries as well, including Roth IRA beneficiaries. Even though Roth IRA owners don’t have RMDs, Roth IRA beneficiaries do.