Wondering what you can expect when it’s time to take your RMD (required minimum distribution)? Don’t worry, we got you. Watch our video as Ryan walks you through how RMDs work, when to take yours, and much more.

0:18 What is an RMD?
0:32 When do you take your RMD?
1:06 What happens if you don’t take your RMD?
1:28 How are RMDs taxed?
1:38 How do you find out your RMD total?
1:56 How do you take an RMD from your Fidelity IRA?

• To learn even more about RMDs visit:
• To calculate your RMD total visit:

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If you have a Fidelity IRA and are over the age of 72, you are likely required to take a Required Minimum Distribution (RMD) from your account each year. Failing to do so can result in a substantial penalty, so it’s important to understand the process and guidelines for taking an RMD from your Fidelity IRA. Here’s a step-by-step guide on how to take an RMD from a Fidelity IRA.

1. Understand the RMD rules: The IRS requires individuals with traditional IRAs to start taking RMDs once they reach the age of 72 (70 ½ if you reached the age of 70 ½ before January 1, 2020). The amount you are required to withdraw is determined by your IRA balance and life expectancy.

2. Calculate your RMD: Fidelity provides tools and resources to help you calculate your RMD. You can use their RMD calculator to determine the amount you need to withdraw from your IRA for the year. The amount is based on your IRA balance at the end of the previous year and your life expectancy.

3. Choose your distribution method: Fidelity offers several options for taking your RMD. You can choose to have the funds transferred to your bank account, sent to you as a check, or have the funds reinvested into another Fidelity account. You can also set up automatic withdrawals to ensure you meet the RMD deadline each year.

4. Make sure to take your RMD before the deadline: The deadline for taking your RMD is December 31st of each year. Failure to take your RMD by this date can result in a 50% penalty on the amount you failed to withdraw. It’s essential to plan ahead and ensure you take your RMD in a timely manner.

5. Consider tax implications: RMDs are generally considered taxable income, so it’s important to consider the tax implications of your withdrawal. You may want to consult with a tax advisor to understand how your RMD will impact your overall tax situation.

6. Review and update beneficiary information: As you take your RMD, it’s a good time to review and update your beneficiary information on your Fidelity IRA. Ensuring your beneficiaries are up to date can help avoid potential issues in the future.

In conclusion, taking an RMD from a Fidelity IRA is a straightforward process, but it’s important to understand the rules and guidelines to avoid any penalties. By calculating your RMD, choosing a distribution method, and ensuring you take your RMD before the deadline, you can easily fulfill this requirement and continue to manage your retirement savings with Fidelity. If you have any questions or need assistance with taking your RMD, Fidelity provides customer support and resources to help you through the process.