When must IRA holders being taking their money out of their Traditional IRA?

IRA holders must begin taking money out of their Traditional IRAs by April 1 following the year in which they turn 72 (also known as the IRA holder’s required beginning date). The minimum amount that the IRA holder must distribute for a given tax year is called the required minimum distribution (RMD). Failure to remove the RMD results in an excess accumulation penalty equal to 50% of the amount that should have been withdrawn.