Once an IRA holder reaches the age of 70 1/2 the Required Minimum Distribution is the minimum annual distribution amount that holder is required to take.
The amount you are required to withdraw each year from your tax-deferred plan after you reach your Required Beginning Date. It is determined by dividing the value of your tax-deferred accounts by the life expectancy of you and your Beneficiary. The intent is that by the time you and your Beneficiary are both expected to die, your tax-deferred savings will be fully withdrawn.
With qualified retirement plans (such as traditional IRAs), the distribution that you are required to begin taking from your policy or account beginning no later than April 15 of the year following the year during which you reach age 70 1/2.