RMD Calculator

What is a Required Minimum Distribution (RMD)?

A Required Minimum Distribution (RMD) is the minimum amount you must withdraw from your retirement accounts each year, typically starting at age 73. These mandatory withdrawals apply to traditional IRAs, SEP IRAs, SIMPLE IRAs, 401(k)s, 403(b)s, 457(b)s, and other defined contribution plans.

How to Use This Calculator

1. Enter Your Age: Input your age as of December 31 of the current year
2. Account Balance: Enter your total account balance as of December 31 of the previous year
3. Spouse's Age (Optional): If your sole beneficiary is your spouse who is more than 10 years younger, enter their age for a reduced RMD
4. View Results: See your required minimum distribution amount and other key metrics

Understanding Your Results

RMD Amount

The minimum amount you must withdraw from your retirement account this year. Failure to take your full RMD may result in a 25% excise tax on the amount not distributed.

Life Expectancy Factor

The IRS divisor used to calculate your RMD. This factor is based on your age and comes from the IRS Uniform Lifetime Table or Joint Life Expectancy Table.

Percentage of Balance

Shows what percentage of your account balance you're required to withdraw. This percentage increases as you age.

The RMD Formula

Formula: RMD = Account Balance (as of Dec 31 prior year) ÷ Life Expectancy Factor

Source: IRS Publication 590-B and SECURE Act 2.0

The life expectancy factor is determined by the IRS Uniform Lifetime Table for most account owners. If your sole beneficiary is your spouse who is more than 10 years younger, you may use the Joint Life and Last Survivor Expectancy Table, which typically results in a smaller RMD.

IRS Life Expectancy Tables

Uniform Lifetime Table (Most Common)

Used by:

• All unmarried IRA owners
• Married owners whose spouses are not more than 10 years younger
• Married owners whose spouses are not the sole beneficiaries

Joint Life Table

Used when your sole beneficiary is your spouse who is more than 10 years younger than you, resulting in a longer life expectancy and smaller RMD.

Key RMD Rules (SECURE Act 2.0)

First RMD Deadline: April 1 of the year after you turn 73 Subsequent RMDs: December 31 each year

RMD Penalties

Frequently Asked Questions

When do I have to start taking RMDs?

Under the SECURE Act 2.0, you generally must start taking RMDs at age 73 (or 75 if born in 1960 or later). Your first RMD is due by April 1 of the year after you turn 73.

What accounts require RMDs?

RMDs apply to traditional IRAs, SEP IRAs, SIMPLE IRAs, 401(k)s, 403(b)s, 457(b)s, and other defined contribution plans. Roth IRAs do not require RMDs during the owner's lifetime.

Can I take more than my RMD?

Yes, you can always withdraw more than the minimum required. However, excess withdrawals cannot be applied to future years' RMDs.

What if I have multiple IRAs?

You must calculate the RMD separately for each IRA, but you can withdraw the total amount from any one or combination of your IRAs.

Are RMDs taxable?

Yes, RMDs from traditional retirement accounts are generally taxed as ordinary income in the year they are received.

What happens if I miss my RMD?

If you fail to take your RMD, you may face a 25% excise tax on the amount not distributed. This penalty can be reduced to 10% if corrected within 2 years.

Important Limitations

• This calculator uses the IRS Uniform Lifetime Table and Joint Life Table for 2024
• The calculator provides estimates for planning purposes only
• Does not account for inherited IRAs (different rules apply)
• Does not calculate RMDs for Roth 401(k)s (which began requiring RMDs in 2024 but were later exempted)
• Consult a tax professional for personalized advice

Disclaimer: This calculator is for informational purposes only and should not replace professional tax or financial advice. RMD rules are complex and subject to change. Always verify calculations with a qualified professional.