As with other tax-deferred retirement savings vehicles, you are required to take at least a minimum distribution from your Traditional IRA, Rollover IRA, and SEP-IRA each year beginning with the year you turn 70½. (There is a 50% penalty tax on amounts that are not distributed.) The distribution for the year you turn 70½ may be delayed until April 1 of the following year. The distribution for each year after you turn 70½ must be taken by December 31. If you wait until April 1 to take the first distribution, you will have to take two distributions in the same year.

Dreyfus is required to withhold 10% of your Traditional, Rollover and SEP-IRA distributions for federal income tax purposes unless you elect on our distribution request form not to have taxes withheld. This withholding applies to the total amount of each distribution even if part of it is attributable to nondeductible contributions.

If you opt out of withholding or do not have enough tax withheld, you may have to pay taxes and you may incur penalties if estimated tax payments are insufficient.

If you are entitled to receive a distribution from a retirement plan, the plan administrator is required to provide you with a detailed notice explaining the applicable tax rules. For more specific information about distribution rules — including information on the required minimum distribution regulations and how they apply to your particular situation — contact your financial advisor, and/or tax professional.

Required Minimum Distribution Request Form

Investors should consider the investment objectives, risks, charges, and expenses of a fund carefully before investing. Download a prospectus that contains this and other information about a fund, and read it carefully before investing.

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