RMD Calculator

Calculate Required Minimum Distributions from retirement accounts

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About Required Minimum Distributions

Required Minimum Distributions (RMDs) are mandatory withdrawals from retirement accounts that must begin at age 73 (as of 2024). The amount is calculated based on your account balance and life expectancy factors provided by the IRS using the Uniform Lifetime Table.

Key Points

  • RMDs must begin by April 1st following the year you turn 73
  • Subsequent RMDs must be taken by December 31st each year
  • Failure to take RMDs can result in a 25% penalty on the shortfall (reduced from 50% in 2023)
  • RMDs are calculated separately for each retirement account
  • Distributions are taxed as ordinary income
  • Roth IRAs do not require RMDs during the owner's lifetime (as of 2024)
  • RMDs cannot be rolled over to another retirement account

References

RMD calculations and guidelines are based on IRS regulations:

Note: This calculator provides estimates based on the IRS Uniform Lifetime Table. Different rules may apply for inherited IRAs or if your spouse is more than 10 years younger. Consult with a tax professional or financial advisor for specific advice regarding your retirement accounts.

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