Generally speaking, there is a required minimum distribution (RMD) that the IRS requires participants take from Traditional retirement plans beginning for the year in which they retire or turn a certain age. In the event that you don’t take your required minimum distribution, you may be subject to a 50% excise tax on the amount of the distribution that you failed to take on time. To determine your deadline for taking a required minimum distribution, please refer to IRS guidelines or speak to a ...