IRA account owners are required to begin taking the annual Required Minimum Distribution (RMD) from their accounts beginning in the year the owner reaches age 73. Failure to withdraw the required amount will result in a penalty of up to 25% of the required withdrawal.
You can delay taking your first RMD until April 1 of the year following the year you turn 73. After the first RMD, the deadline is December 31 of each year.