Generally, Required Minimum Distributions (RMD) must be taken by those over age 70 ½ annually from employer pension plans and IRA’s (not Roth IRA’s). Failure to do so may result in a 50% penalty of the amount of the RMD. Keep in mind the year you turn 70 ½ you can defer the first distribution until April 1st of the following year. If so, you will have to take two RMD’s that year.