RMD Calculator
Calculate RMD
Calculate your required minimum distribution for the year
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Formula
RMD = Account Balance (Dec 31 prior year) / Distribution Period. Distribution Period comes from IRS Uniform Lifetime Table based on your age.
Frequently Asked Questions
When do I have to start taking RMDs?
Under the SECURE 2.0 Act, RMDs begin at age 73 for those born 1951-1959, and age 75 for those born 1960 or later. Your first RMD must be taken by April 1 of the year after you reach the applicable age. Subsequent RMDs are due by December 31 each year.
How is the RMD calculated?
RMD = Account Balance (as of Dec 31 of the prior year) / Distribution Period from the IRS Uniform Lifetime Table. For example, at age 75 the distribution period is 24.6, so a $500,000 balance requires a $20,325 withdrawal.
What happens if I don't take my RMD?
The penalty for not taking your full RMD is 25% of the amount not withdrawn (reduced from the former 50% penalty). If corrected within 2 years, the penalty drops to 10%. You should take your RMD on time to avoid penalties.
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