Publication 4141 (Rev. 8-2009)  Catalog Number 35631R  Department of the Treasury Internal Revenue Service www.irs.gov
                   Senior Citizens
       Don’t get penalized on monies in your IRA!

Are you an IRA     Retirement plans are primarily designed to supplement retirement 
owner over 70?     income. Withdrawals from the retirement plan must begin by a certain 
                   date and not be postponed indefinitely. You are required to take 
                   distributions from your traditional IRA and other retirement plans 
                   once you reach 70 1/2. This is referred to as the Required Minimum 
                   Distribution Rules.

What are the       Generally, participants in a qualified retirement plan or IRA must begin 
rules?             to receive distributions from the plan by April 1 of the year following the 
                   year in which the participant turned 70 ½. Some retirement plans allow 
                   the participant to defer distributions until they retire, even if they are past 
                   age 70 ½. This option is not available for traditional IRAs. All distributions 
                   after the initial distribution must be made annually by December 31.

How do I calculate The account balance (as of the end of the preceding year) for all of your 
the required       traditional IRA accounts are added together and then divided by the 
                   applicable divisor from the Uniform Table. This is the minimum amount 
minimum            that you must withdraw. You can always take more than this amount out, 
distribution?      if your plan allows that option. Part or all of the money you withdraw will 
                   be subject to Federal Income Tax. If you do not have any tax withheld 
                   from the disbursement, you may need to make estimated tax payments 
                   (see Publication 505, Tax Withholding and Estimated Tax, for more 
                   information).

What happens if    Failing to take the required minimum distribution may result in the 
I fail to comply?  assessment of a 50% excise tax on the difference between the Required 
                   Minimum Distribution amount and the actual amount distributed.

Can I delay my     Yes, however, if you do not take a distribution in the year that you turn 
first required     70 ½, you will need to take two distributions the following year. The 
                   first distribution, which represents the amount for the year in which you 
distribution?      turned 70 ½, must be taken by April 1. You will also need to take the 
                   current year’s distribution by December 31.

Where can I find   Publication 590, Individual Retirement Accounts, contains information on 
                   the minimum distribution requirements and the Uniform Tables. You can 
out more about 
                   also visit the IRS Website at www.irs.gov. Some IRA administrators will 
the required       help you figure your minimum distribution. For complex situations, you 
distributions?     may need to seek the assistance of an accountant or attorney.

Publication 4141 (Rev. 8-2009)  Catalog Number 35631R  Department of the Treasury Internal Revenue Service www.irs.gov