Required minimum distribution
The smallest amount the IRS requires you to withdraw each year from traditional retirement accounts, starting at age 73.
Each year's amount is your account balance at the end of the prior year divided by a life expectancy factor from IRS tables. The withdrawal is taxed as income.
Roth IRAs have no required withdrawals while the owner is alive. Missing a required withdrawal can mean a 25% excise tax on the amount you should have taken, cut to 10% if you fix it within 2 years.