Taxpayers born before 7/1/1944 generally must receive the Required Minimum Distribution (RMD) payments from their Individual Retirement Arrangements (IRAs) and workplace retirement plans [including Section 401(k) , 403(b) , and 457(b) plans] by 12/31/14. A special rule allows those who reached age 70 1/2 during 2014 to wait until as late as 4/1/15 to receive their first RMD. The special April 1 deadline applies only to the RMD for the first year; the remaining RMDs must be received each year by December 31.Consequently, deferring the first-year payment into 2015 will result in the taxpayer having two taxable distributions in 2015. News Release IR-2014-112.