What Is the IRA Mandatory Withdrawal Age?


Quick Answer

As of 2015, the IRA mandatory withdrawal age is 70.5 years old for both genders. This age is effective even if the recipient has not yet retired. The monthly mandatory withdrawal is the responsibility of both the recipient and IRA fund owners, and failure can result in stiff penalties.

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Full Answer

These minimum distributions must begin on or before April 1 of the year that the individual reaches the age of 70 1/2, according to Bankrate. However, the minimum distribution amount changes on an annual basis. Factors that can determine the minimum distribution amount include the account's year-end value, the distribution period that is determined by the Internal Revenue Service, and the age of the individual as of December 31.

When the owner of an IRA account dies before the mandatory withdrawal age, the account is inherited by a beneficiary. The total amount contained within the account generally must be released in full within five years of the original owner's death or over the lifetime of the new beneficiary beginning within one year of the owner's death.

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