How to Take a Required Minimum Distribution (RMD) From Your IRA

If you're over the age of 70½ and you're ready to take your RMD from your Fidelity IRA, we can help.

What are the rules for taking an RMD?

If you're over age 70½, the IRS will require you to begin taking distributions from your IRA. However, if you have a Roth IRA, there are no mandatory withdrawals at any age.

If you plan to take an RMD from a Traditional, Rollover, SIMPLE, or SEP IRA, please consider the following RMD rules:

  • Your distribution may be taxed
  • You have to take your RMD by December 31 each year*
  • You'll need to take your RMD every year after turning 70½

To avoid unnecessary penalties or taxes, find out what specific RMD rules apply to your account type.

What do I need to know?

Before you take your RMD:

  • See your estimated RMDLog In Required for this year, we'll calculate your RMD based on the retirement accounts you have at Fidelity
  • RMDs are taxed as ordinary income, so be sure to talk to your tax advisor about how RMDs might impact you
  • Make sure you have enough cash available, or you may have to sell some of your investments

To take your RMD:

Withdrawing online is an easy way to take your RMD. To make a one-time withdrawalLog In Required from your IRA, you'll follow these steps:

  • Schedule an account and enter your withdrawal amount
  • Decide where to send your withdrawal
  • Choose your tax withholding amounts
  • If necessary, sell your investments to make cash available

You can also set up automatic withdrawalsLog In Required for your RMD on a monthly, annual, or custom schedule. We will do the work of calculating and distributing your RMDs for your eligible Fidelity accounts each year.

What to expect

If you complete your withdrawal on a business day before 4 p.m. ET, find out when you'll get your money.

Delivery times vary by transfer type and may take longer if you have to sell securities to make cash available.

Once you've submitted your request, you can track your withdrawal on the Activity & OrdersLog In Required tab in your Profile.