70 ½.
1 Under a Roth, earnings withdrawals are tax free if you are over 59 ½, and have been in a Roth for more than 5 years. 2  Under a Traditional, all your earnings distributions are considered Ordinary Income for tax purposes both over and under age 59 1/2. 3  Then you need to picture your retirement years. Required minimum distributions. If you own a traditional IRA, you must start taking out a minimum amount of money by April 1 of the year following the year in which you reach age 70 --your required beginning date. You always can take out more, but not less than, the required minimum distribution amount. If it’s a traditional IRA, you must start withdrawing a required minimum amount each year starting the year you reach age 70 1/2. Required minimum distributions are also mandatory for Simplified Employee Pension IRAs and Savings Incentive Match Plan for Employee IRAs. Ultimate guide to retirement. While you can begin making qualified withdrawals from a traditional IRA at age 59½, you must start taking withdrawals that are known as required minimum distributions starting in the year you turn 70 ½. 1 Minimum age you must be to begin taking qualified distributions: 59 and 1/2. 2  Maximum age where you must begin to take qualified distributions: Never! 3  You are not forced to take distributions at age 70 1/2. 4  You can keep the money in your Roth IRA as long as you want. If you are under 59 ½: If you withdraw any money from a traditional IRA, you'll be slapped with a 10% penalty on the amount you withdraw. That's in addition to the regular income tax you'll owe on your withdrawal. Bad idea. Our favorite, the Roth IRA: 1  Minimum age you must be to begin taking qualified distributions: 59 and 1/2. 2  Maximum age where you must begin to take qualified distributions: Never! 3  You are not forced to take distributions at age 70 1/2. Early Withdrawal Penalty. If you take money out of your SEP IRA prior to age 59-1/2, you will have to pay a 10 percent penalty on the withdraw.
http://www.ira-basics.com/when-and-how-to-start-ira-withdrawals/ http://hffo.cuna.org/14953/article/351/html http://finance.zacks.com/age-must-start-disbursing-ira-8178.html http://money.cnn.com/retirement/guide/IRA_traditional.moneymag/index5.htm http://www.rothira.com/blog/comparing-retirement-accounts-at-what-age-do-you-have-to-begin-to-withdraw-funds http://money.cnn.com/retirement/guide/IRA_Basics.moneymag/index6.htm http://www.rothira.com/blog/comparing-retirement-accounts-at-what-age-do-you-have-to-begin-to-withdraw-funds http://www.finweb.com/retirement/sep-ira-withdrawal-rules-and-penalties.html
when do you have to start withdrawing from your ira