By what date is Walter required to begin taking the required minimum distribution from his traditional IRA?

When it comes to traditional IRAs, the IRS mandates that account holders must start taking required minimum distributions (RMDs) once they reach a certain age, which is currently 72 for individuals who were born after July 1, 1949. The first RMD must be taken by April 1 of the year following the year the account holder turns 72.

In this scenario, Walter would have turned 72 in 2017, meaning he is required to take his first RMD by April 1, 2018. This deadline allows him some flexibility since he could defer the distribution until the first quarter of the following year; however, not taking it by this date would result in penalties. Therefore, April 1, 2018, is the correct date for when Walter must start taking his required minimum distribution from his traditional IRA.