RMD โ Required Minimum Distribution
Calculate your annual Required Minimum Distribution from retirement accounts. RMDs start at age 73 under SECURE 2.0. Use IRS Uniform Lifetime Table or Joint Life Table if spouse is 10+ years younger.
Why This Matters for Your Finances
Why: RMDs are mandatory withdrawals from tax-deferred retirement accounts. Missing an RMD incurs a 25% penalty. Planning helps with tax efficiency.
How: Enter your Dec 31 prior-year balance, age, and spouse details. The calculator uses IRS life expectancy tables to compute your minimum withdrawal.
- โQCDs can satisfy RMDs tax-free
- โRoth IRAs have no RMDs during lifetime
- โAggregate IRAs for withdrawal flexibility
RMD Calculator
Required Minimum Distribution โข IRS tables โข Tax planning
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Annual RMD
Step-by-step:
3.77% of balance
โ ๏ธFor educational and informational purposes only. Verify with a qualified professional.
๐ก Money Facts
RMDs start at age 73 under SECURE 2.0
โ IRS
25% penalty for missed RMD (reduced from 50%)
โ IRS
๐ Key Takeaways
- โข RMDs increase as you age because the life expectancy divisor shrinks each year
- โข QCDs (Qualified Charitable Distributions) can satisfy RMDs tax-free
- โข Consider Roth conversions to reduce future RMDs and tax exposure
- โข Aggregate IRAs for withdrawal flexibility but calculate each RMD separately
๐ก Did You Know?
๐ How RMD Calculation Works
Your RMD is your account balance as of December 31 of the prior year divided by your life expectancy factor from the IRS tables. The Uniform Lifetime Table is used for most people. If your spouse is 10+ years younger and your sole beneficiary, use the Joint and Last Survivor Table for a lower RMD.
RMD Formula
RMD = Account Balance (Dec 31 prior year) รท Life Expectancy Factor
Tables
Uniform Lifetime (most), Joint and Last Survivor (spouse 10+ years younger, sole beneficiary), or Single Life (beneficiaries)
๐ฏ Expert Tips
๐ก QCD Strategy
Use Qualified Charitable Distributions to satisfy RMDsโup to $105,000/year (2024) counts tax-free.
๐ก Withdrawal Timing
Take RMDs late in the year to maximize tax-deferred growth; coordinate with other income.
๐ก Roth Conversions
Convert traditional to Roth in low-income years to shrink future RMDs.
๐ก Aggregate IRAs
Calculate each IRA's RMD separately, but you can take the total from any one or combination.
โ๏ธ RMD Tables Comparison
| Table | When Used | Effect |
|---|---|---|
| Uniform Lifetime | Most account owners | Standard divisor |
| Joint & Last Survivor | Spouse 10+ yrs younger, sole beneficiary | Lower RMD |
| Single Life | Beneficiaries | Based on beneficiary age |
โ Frequently Asked Questions
When do I have to take my first RMD?
By April 1 of the year after you turn 73. Subsequent RMDs are due by December 31 each year.
What balance do I use?
The balance as of December 31 of the prior year. For your first RMD, use the balance from the year you turn 72 (or 73).
Can I take more than my RMD?
Yes. RMD is the minimum. You can withdraw more; the excess does not reduce future RMDs.
What if I have multiple IRAs?
Calculate the RMD for each IRA separately. You can take the total from any one or combination of IRAs.
Do 401(k)s and IRAs aggregate?
No. 401(k) RMDs must come from each 401(k) separately. IRA RMDs can be aggregated.
Can a QCD satisfy my RMD?
Yes. Qualified Charitable Distributions up to $105,000/year (2024) count toward your RMD and are tax-free.
What is the penalty for missing an RMD?
25% of the shortfall (reduced from 50% under SECURE 2.0). You can request a waiver for reasonable cause.
๐ RMD by the Numbers
๐ Official Data Sources
- โข IRS Pub 590-B โ Distributions from IRAs
- โข IRS.gov โ Life expectancy tables
- โข CFP Board โ Retirement planning
โ ๏ธ Disclaimer: This calculator provides estimates only. Verify with IRS Publication 590-B and your plan administrator. Consult a tax or financial advisor for personalized advice.