Required Minimum Distributions

In 2026, James turns age 73. He owns the following retirement accounts:

• Traditional IRA: $480,000
• Former employer’s 401(k): $320,000
• Roth IRA: $150,000

James is retired and does not work for the employer sponsoring the 401(k).

What is James’s minimum required distribution obligation for 2026?

1. RMDs must be taken from the traditional IRA and the 401(k), but not the Roth IRA
2. RMDs must be taken from all three accounts
3. Only the traditional IRA is subject to RMDs
4. No RMDs are required because James is age 73, not 75