The Deadline for Your First RMD Is April 1

Did you turn 70½ in 2018? Do you have money in a traditional IRA, 401(k) or other retirement account (except a Roth IRA)? If so, you might have to take your first required minimum distribution (RMD) from the account by April 1, 2019, if you haven't done so already.

If you don't take an RMD by the deadline, or if your distribution wasn't large enough, you may be hit with a 50% penalty