Born 1950 or Earlier Start taking RMD's, Year you will be 70 1/2 - Must be taken by Dec 31 each year

Born 1951-1959 Start taking RMD's, Year you will be 73 - RMD's must be taken by Dec 31 each year

Born 1960 or later Start taking RMD's, Year you will be 75 - RMD's must be taken by Dec 31 each year

Penalties Not taking RMD'S - Old Rule before 2023: 50%, Current Rule starting 2023: 25% on amount not withdrawn

If You Have an Income Rider on Your FIA Annuity - the income is counted as part of your RMD, no need to take RMD's