Required Beginning Date

Required Beginning Date

The date by which an IRA must begin distributing payments to the annuitant. Under most circumstances, the date is April 1 of the year following the time that the annuitant turns 70.5. Occasionally, the required beginning date is postponed until the date of retirement, but this is not allowed in situations in which the annuitant owns 5% or more of the company sponsoring the IRA. The amount distributed on the required beginning date may or may not be taxable, depending on the type of IRA. See also: Minimum required distribution.

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Required beginning date (RBD). Your required beginning date is the date by which you must take your first minimum required distribution from retirement savings plans that require distributions.

For an individual retirement account (IRA), it's April 1 of the year following the year you turn 70 1/2. For a 401(k), it's either the April 1 of the year following the year you turn 70 1/2 or the April 1 following the year you retire, unless you own 5% or more of the company sponsoring the plan. If that's the case, your deadline is April 1 of the year after the year you turn 70 1/2.