For the estimated million-plus folks who turned 70 1/2 years old last year, time is running out to take their first required minimum distribution from their various 401(k) and IRA accounts without incurring stiff tax liabilities.

Kevin Walsh, Fidelity Investments' vice president of product management, says his firm has been busy this week reminding financial advisors to take a good look at their retirement client accounts to make sure people who may have been confused by recent changes in the RMD requirement are aware they have until April 1 to take their distribution.

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