Traditional 401(k)s and IRAs both have required minimum distributions (RMDs) beginning in the year you turn 73, but that doesn't necessarily mean you have to take money from every such account you own each year. There are unique rules governing each type of retirement account, and understanding them can help you hold onto more of your hard-earned savings.

There are two key RMD rules that can be especially tricky because they differ between 401(k)s and IRAs. Here's a closer look at how they work.

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1. You don't have to take RMDs from your current 401(k) if you're still working

If you're still employed and own less than 5% of the company you work for, even if you have reached the age where RMDs kick in, you aren't required to take RMDs from your current 401(k). You are, however, still required to take RMDs from IRAs and any 401(k)s from past employers.

This option to skip RMDs from your current employer's 401(k) only lasts until you actually retire. At that point, you'll have to start taking those RMDs as well, and they could be larger than you expected, as the account balance will likely be higher because your investments will have had a longer time to grow untouched.

2. You don't have to withdraw funds from every IRA every year

You are required to take RMDs for each of your traditional IRAs, but that doesn't mean you have to withdraw funds from every account. For example, if you have funds in two traditional IRAs -- one with a $5,000 RMD and one with a $10,000 RMD -- you can withdraw $15,000 from one and nothing from the other, $7,500 from each, or any combination you'd like as long as the total is at least $15,000. With 401(k)s, on the other hand, you must take the mandated RMD for each individual account from that specific account.

Leaving some IRAs untouched can help your savings last longer. For example, if you have one IRA that's performing well and another that's doing poorly, you might choose to take most or all of your RMDs from the one that's doing well rather than the one that's doing poorly so you don't lock in your losses.

You can also minimize how many RMDs you have to take by doing IRA or 401(k) rollovers to reduce the number of accounts you have to manage. Fewer accounts may not reduce the amount you need to withdraw for your RMDs each year, but it could make them easier to manage.

If you have any questions about how your RMDs could affect your taxes this year, consult an accountant who can give you personalized advice on your situation. And make sure you complete your RMDs before the deadline to avoid penalties. You have until Dec. 31 to complete your 2026 RMDs if you'll be 74 or older by the end of the year. Those who are turning 73 this year have until April 1, 2027, to take their first RMDs, but waiting until the following year to take your first required distributions means you'll be taking two years' worth of them in one year, which could lift you into a higher marginal tax bracket.