--- title: "April 1 IRA Required Minimum Distribution (RMD) Start Date: What You Need to Know" description: April 1 marks the starting date of Required Minimum Distribution (RMD) withdrawals for IRA owners who've turned 70 ½, with significant tax ramifications, as well as a costly penalty for those who don't comply. image: https://www.4tfg.com/hubfs/Blog/4Thought-Blog-April-1-IRA-Required-Minimum-Distribution-%28RMD%29-Start-Date.jpg --- [![4thought_footer-logo.png](https://www.4tfg.com/hs-fs/hubfs/4thought_footer-logo.png?width=335&height=101&name=4thought_footer-logo.png "4thought_footer-logo.png")](https://www.4tfg.com/) - [![4Thought Financial Group](https://www.4tfg.com/hubfs/4thought_footer-logo.png)](https://www.4tfg.com/) [![4Thought Financial Group Compass](https://www.4tfg.com/hubfs/4Though-Compass.png)](https://www.4tfg.com/) - [About 4Thought](https://www.4tfg.com/investment-methodology) - [Our Investment Methodology](https://www.4tfg.com/investment-methodology) - [Management Team](https://www.4tfg.com/management) - [In the Media](https://www.4tfg.com/media) - [Contact](https://www.4tfg.com/contact) - [Services](https://www.4tfg.com/investing) - [Private Individual Investing](https://www.4tfg.com/investing) - [SMAs for RIA /Institutional /Family Office](https://www.4tfg.com/financial-advisors-and-institutions) - [Services for CPAs](https://www.4tfg.com/cpa-investing-services) - [Private Wealth Management](https://www.4tfg.com/wealth-management) - [Retirement Plan Services](https://www.4tfg.com/retirement-plan-services) - [Resources](https://www.4tfg.com/resources) - [Financial News](https://www.4tfg.com/resources) - [Portfolio Review](https://www.4tfg.com/portfolio-review) - [Investment Performance](https://www.4tfg.com/performance-requests) - [CPA Continuing Education](https://www.4tfg.com/cpe-continuing-education) - [FAQs](https://www.4tfg.com/faq) - [FAQs](https://www.4tfg.com/faq) - [Contact](https://www.4tfg.com/contact) - Log In - [Goldman Sachs Accounts](https://www.folioclient.com/servlets/ProcessAction?identifier=loginFormEntry&user.mode=IAC) - [Wealth Management](https://wealth.emaplan.com/ema/SignIn?ema) - [Consolidated Reporting](https://client.myadvisorlink.com/auth/users/webportal/4tfg) - [Retirement Plan Services](https://www.4tfg.com/rps-login) - - Log In - [Goldman Sachs Accounts](https://www.folioclient.com/servlets/ProcessAction?identifier=loginFormEntry&user.mode=IAC) - [Wealth Management](https://wealth.emaplan.com/ema/SignIn?ema) - [Consolidated Reporting](https://client.myadvisorlink.com/auth/users/webportal/4tfg) - [Retirement Plan Services](https://www.4tfg.com/rps-login) ## 4Thought Investing Resources ## 4Thought Investing Resources [Financial News](https://www.4tfg.com/resources/) [Investment Strategy](https://www.4tfg.com/resources/topic/investment-strategy) [Personal Finance](https://www.4tfg.com/resources/topic/personal-investing) [Business Finance](https://www.4tfg.com/resources/topic/business-finance) [For Professionals](https://www.4tfg.com/resources/topic/financial-professionals)[Compass and Crosshairs](https://www.4tfg.com/resources/topic/compass-and-crosshairs) SUBSCRIBE Subscribe for free tips and articles to help you lead a smarter financial life. [Financial News](https://www.4tfg.com/resources) ,[Investment Strategy](https://www.4tfg.com/resources/topic/investment-strategy) ,[Financial Advisor](https://www.4tfg.com/resources/topic/financial-advisor) ,[Financial News](https://www.4tfg.com/resources/topic/financial-news) # April 1 IRA Required Minimum Distribution (RMD) Start Date: What You Need to Know April 1 marks the starting date of Required Minimum Distribution (RMD) withdrawals for IRA owners who've turned 70 ½, with significant tax ramifications, as well as a costly penalty for those who don't comply. \[fa icon="calendar"\] Feb 8, 2019 2:58:21 PM by [Martin E. Levine, CPA, ChFC, CAP](https://www.4tfg.com/resources/author/martin-e-levine-cpa-chfc-cap) ![April 1 IRA Required Minimum Distribution (RMD) Start Date: What You Need to Know](https://www.4tfg.com/hubfs/Blog/4Thought-Blog-April-1-IRA-Required-Minimum-Distribution-%28RMD%29-Start-Date.jpg) Info Sheet - PDF Download [![](https://www.4tfg.com/hubfs/Collateral/Wealth-Management.png "Wealth Management and Financial Planning")](https://www.4tfg.com/hubfs/Collateral/Wealth-Management.pdf) ### **Wealth Management by 4Thought Financial Group** "The comprehensive wealth management we provide involves the coordination and execution of four different types of financial planning: Investment Planning, Estate Planning, Business Succession Planning and Fringe Benefit Planning." [View the PDF](https://www.4tfg.com/hubfs/Collateral/Wealth-Management.pdf) [Save the PDF](https://www.4tfg.com/hubfs/Collateral/Wealth-Management.pdf.zip) [*Learn more about Wealth Management and Financial Planning*](https://www.4tfg.com/wealth-management) Besides the infamous April 15th tax return deadline looming this year, there is also the infamous April 1st date. Why is this date also infamous? It is the “Required Beginning Date” (RBD) for Required Minimum Distribution (RMD) withdrawals from traditional IRAs following the year the IRA owner turns 70 ½. This is only the beginning. Every year thereafter, withdrawals must be taken. The result is more [taxable income and income taxes](https://www.4tfg.com/resources/how-can-high-earner-reduce-current-income-taxes-non-qualified-deferred-compensation). *Ouch!* With more and more boomers turning 70, this date will live on in infamy until the IRS changes the rules. For example, if Robin is turning 70 on May 30 this year, on November 30 she will be 70 ½. So now comes April 1, 2020, which represents her “required beginning date” (RBD) for withdrawals from her traditional IRA. If she fails to take that withdrawal, she would be penalized with a 50% excise tax. So now you understand why April 1 is an important deadline with some important consequences from an income tax (and potentially an excise tax penalty) point of view. As with every rule, there are opportunities and exceptions. The traditional IRA RMD withdrawal is calculated based on Robin’s life expectancy (from an IRS table). Per the table, called the “Lifetime Required Minimum Distributions,” at age 70, Robin’s life expectancy is 27.4 years. To calculate the amount of the withdrawal, the December 31, 2019 balance would be divided by 27.4. Robin will also turn 71 in 2020, and for her second “required minimum distribution” (RMD), she will need to take her withdrawal by December 31, 2020 and for each year thereafter. In 2020, at age 71, Robin's [life expectancy](https://www.4tfg.com/resources/wealth-management-and-longevity) is now 26.5. As Robins gets older, her life expectancy gets shorter. At age 80, her life expectancy is 18.7. Herein lies the problem: The older she gets, the shorter the life expectancy, and the higher the taxable distribution. That’s why pre-planning for this inevitability is important. Here is where the potential [planning opportunity](https://www.4tfg.com/resources/4thought-financial-group-wealth-management-and-investment-methodology-overview) may be: Robin can either take one withdrawal in 2019, or two withdrawals in 2020. Either works to satisfy the requirement and avoid the excise tax penalty. I would recommend meeting with your [tax professional](https://www.4tfg.com/resources/finding-your-financial-advisor) to determine the best choice. Remember, this is only the “minimum” amount required to be withdrawn. Additional amounts can be withdrawn based on cash flow needs, income tax brackets and family circumstances. There’s good news! We are living healthier and working longer. Certain qualified plans, such as Tax Shelter [Annuities](https://www.4tfg.com/resources/cpa-continuing-education-course-annuities-as-a-tool-of-financial-planning), [401(k) and 403(b)](https://www.4tfg.com/resources/a-401k-rollover-is-easier-than-ever) allow you to delay withdrawals if you are still working. Also, in certain instances, life expectancy can be based on the joint ages of the holder of the [retirement plan](https://www.4tfg.com/retirement-plan-services) and their beneficiary. ### **4Thought Financial Group** For more information on the above as well as to review budgeting and cash flow needs, please contact 4Thought Financial Group at [info@4tfg.com](mailto:info@4tfg.com) for additional information on how to best [plan for your financial future](https://www.4tfg.com/wealth-management). [![Contact Us](https://no-cache.hubspot.com/cta/default/2201374/4a0854da-f418-4296-8ae4-db3ef0bd9f52.png)](https://cta-redirect.hubspot.com/cta/redirect/2201374/4a0854da-f418-4296-8ae4-db3ef0bd9f52) ### Author: Martin E. Levine, CPA, ChFC, CAP ![](https://www.4tfg.com/hubfs/Email/MartyLevine-EmailSignature.png) [mailto:marty@4tfg.com](mailto:marty@4tfg.com) Martin E. Levine is the Chief Financial Officer of 4Thought Financial Group, an SEC-Registered Investment Adviser (RIA). He holds a BBA from University of Miami, an MBA from St. John’s University, and is a Certified Public Accountant (CPA), a Chartered Financial Consultant (ChFC) and a Chartered Advisor in Philanthropy (CAP). Martin has more than 34 years of experience in wealth management, and specializes in holistic financial planning by coordinating all aspects of a client’s financial life. He is also a licensed life and health insurance representative. [More from this author](https://www.4tfg.com/resources/author/martin-e-levine-cpa-chfc-cap) ## Was this article helpful to you? ### Subscribe to our newsletter for free tips and articles to help you lead a smarter financial life. ### Related posts [![Bear, Bull, Wolf & Eagle: The Markets Reimagined & Redefined](https://www.4tfg.com/hubfs/Bear_Bull_Wolf_Eagle-The_Markets_Redefined.jpg)](https://www.4tfg.com/resources/bear-bull-wolf-eagle-markets-reimagined-redefined) [![Calvin Vu Awarded CFA Designation](https://www.4tfg.com/hubfs/4Thought-Calvin_Vu_Awarded_CFA_Designation.jpg)](https://www.4tfg.com/resources/calvin-vu-awarded-cfa-designation) [![CPA Continuing Education Course: Business Continuity Case Study](https://www.4tfg.com/hubfs/Blog/CPE-Promo-Image-201119.jpg)](https://www.4tfg.com/resources/cpa-cpe-continuing-education-business-continuity-case-study) ## Leave a Comment ### Search 4tfg.com This is a search field with an auto-suggest feature attached. - There are no suggestions because the search field is empty. ### **What Type of Investor Are You?** You have unique investment goals. 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Information throughout this site, including, but not limited to, stock quotes, charts, articles or any other statement or statements regarding market or other financial information, is obtained from sources which we, and our suppliers believe reliable, but we do not warrant or guarantee the timeliness or accuracy of this information. Nothing on this website should be interpreted to state or imply that past results are an indication of future performance. Neither we nor our information providers shall be liable for any errors or inaccuracies, regardless of cause, or the lack of timeliness of, or for any delay or interruption in the transmission thereof to the user. THERE ARE NO WARRANTIES, EXPRESSED OR IMPLIED, AS TO ACCURACY, COMPLETENESS, OR RESULTS OBTAINED FROM ANY INFORMATION POSTED ON THIS OR ANY LINKED WEBSITE. Any opinions presented here are subject to change at any time without notice. Any comments or postings are provided for informational purposes only and do not constitute an offer or a recommendation to buy or sell securities or other financial instruments. Readers should conduct their own review and exercise judgment prior to investing. Investments are not guaranteed, involve risk and may result in a loss of principal. Past performance does not guarantee future results. Investments are not suitable for all types of investors. \*4Thought Financial Group claims compliance with the Global Investment Performance Standards (GIPS®). GIPS® is a registered trademark of CFA Institute. CFA Institute does not endorse or promote this organization, nor does it warrant the accuracy or quality of the content contained herein. The GIPS firm definition excludes any third party asset management programs over which 4Thought maintains oversight advisory agreements on behalf of its clients, any arrangements under which 4Thought provides recommendations for client self-implementation, and any assets under advisory but not under direct management (in which 4Thought provides allocation changes or trading signals to third party firms but does not take discretion over the trading of client accounts). GIPS-compliant performance information for 4Thought's strategies may be obtained by email at [info@4tfg.com](mailto:info@4tfg.com); on the 4Thought website at [https://www.4tfg.com/performance-requests](https://www.4tfg.com/performance-requests); or by phone at (516) 300-1617. ```json { "@context" : "http://schema.org", "@type" : "Organization", "address" : { "@type" : "PostalAddress", "addressCountry" : "", "addressLocality" : "Syosset", "addressRegion" : "New York", "postalCode" : "11791", "streetAddress" : "6851 Jericho Turnpike Suite 120" }, "alternateName" : "4 Thought Financial Group", "areaServed" : { "@type" : "GeoCircle", "geoMidpoint" : { "latitude" : "+40.8100713", "longitude" : "-73.5172286" }, "geoRadius" : "150 km" }, "description" : "April 1 marks the starting date of Required Minimum Distribution (RMD) withdrawals for IRA owners who've turned 70 ½, with significant tax ramifications, as well as a costly penalty for those who don't comply.", "email" : "[GDelorenzo@ClearHorizonGroup.Com, info@4tfg.com, no-reply@4tfg.com]", "image" : "https://www.4tfg.com/hubfs/4Thought-Financial-Group-OG.jpg", "logo" : "http://cdn2.hubspot.net/hubfs/2201374/4thought_header-logo.png", "naics" : "523920", "name" : "4Thought Financial Group", "sameAs" : [ "https://www.facebook.com/4ThoughtFinancialGroup", "https://www.linkedin.com/company/3043702", "https://www.youtube.com/channel/UCEHRK-25mAwfTlNzdvFSN3g", "http://investment-advisors.credio.com/l/39493/4thought-Financial-Group-Inc" ], "telephone" : "516-300-1617", "url" : "http://www.4tfg.com" } ``` ```json { "@context" : "http://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Organization", "name" : "Martin E. 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