Retirees Must Make Obligated Withdrawals From IRAs, 401(k) Accounts by April 1: IRS

Some people could end up making two withdrawals this year, which can affect their taxes.

The Internal Revenue Service (IRS) in Washington on Jan. 9, 2025. Madalina Vasiliu/The Epoch Times

The U.S. Internal Revenue Service (IRS) issued an alert reminding retirees that some of them are obligated to withdraw money from their retirement accounts by the beginning of next month.

“In most cases, retirees who turned 73 in 2024 must begin receiving payments from Individual Retirement Arrangements (IRAs), 401(k)s, and similar workplace retirement plans by Tuesday, April 1, 2025,” the agency said in a March 13 statement.