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What baby boomers need to know about required minimum distributions The oldest baby boomers will turn 70 1/2 this year, which means they will have to start taking required minimum distributions from their 401(k) plans and IRAs, according to this article on Forbes. IRA investors who turn 70 before June 30 are considered to have turned 70 1/2 before Dec. 31 and should draw their first RMD by April 18, 2018. Those with assets in 401(k) plans and other qualified retirement accounts should check their plan documents to determine when they should start taking their RMD.
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