RMD Calculator - Calculate Required Minimum Distributions

How the RMD Calculator Works

This calculator estimates your Required Minimum Distribution (RMD) from retirement accounts based on your age and account balance using the IRS Uniform Lifetime Table.

The RMD calculation uses this simple formula:

RMD = Account Balance ÷ IRS Life Expectancy Factor

Where:

RMD = Required Minimum Distribution (amount you must withdraw)
Account Balance = Your retirement account balance as of December 31st of the previous year
IRS Life Expectancy Factor = Divisor from the IRS Uniform Lifetime Table based on your age

Important RMD Rules

Required Minimum Distributions have specific rules that retirees must follow:

RMDs generally must begin by April 1st of the year after you turn 72 (73 if you reach age 72 after Dec 31, 2022)
Subsequent RMDs must be taken by December 31st each year
Failure to take RMDs results in a hefty penalty of 25% of the amount not withdrawn (10% if corrected in a timely manner)
RMD rules apply to Traditional IRAs, SEP IRAs, SIMPLE IRAs, and most employer-sponsored retirement plans
Roth IRAs do not require RMDs during the owner's lifetime

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Frequently Asked Questions

What is a Required Minimum Distribution (RMD)?

A Required Minimum Distribution (RMD) is the minimum amount you must withdraw annually from certain retirement accounts once you reach a specific age. The SECURE Act raised the RMD age to 72 for those who turned 70½ after December 31, 2019, and the SECURE 2.0 Act further increased it to 73 for those who turn 72 after December 31, 2022. RMDs apply to Traditional IRAs, SEP IRAs, SIMPLE IRAs, and most employer-sponsored retirement plans like 401(k)s and 403(b)s.

How is RMD calculated?

RMD is calculated by dividing your retirement account balance as of December 31st of the previous year by a life expectancy factor from the IRS Uniform Lifetime Table. The IRS provides different tables for different situations: the Uniform Lifetime Table (for most account owners), the Joint and Last Survivor Table (if your spouse is more than 10 years younger and is your sole beneficiary), and the Single Life Expectancy Table (for beneficiaries of inherited IRAs).

Can this calculator be used for all retirement accounts?

Generally yes, but there are some exceptions. This calculator uses the standard IRS Uniform Lifetime Table, which applies to most retirement account owners. However, if your spouse is more than 10 years younger than you and is your sole beneficiary, you may need to use the Joint and Last Survivor Table, which could result in a lower RMD. Inherited IRAs have different rules and use the Single Life Expectancy Table. Always consult with a tax professional for your specific situation.

What happens if I don't take my RMD?

If you don't take your full RMD by the deadline, the IRS imposes a significant penalty. The penalty was reduced from 50% to 25% by the SECURE 2.0 Act, and can be further reduced to 10% if you correct the shortfall in a timely manner. You must still pay income tax on the distribution amount. It's important to note that you can always withdraw more than your RMD, but you cannot withdraw less without facing penalties.

Are Roth IRAs subject to RMD rules?

No, Roth IRAs are not subject to RMD rules during the original owner's lifetime. This is one of the significant advantages of Roth IRAs over Traditional IRAs. However, inherited Roth IRAs are subject to RMD rules for beneficiaries. The SECURE Act changed the rules for inherited retirement accounts, requiring most non-spouse beneficiaries to withdraw all assets within 10 years, though they may not need to take annual distributions depending on their circumstances.