💰 Financial
RMD Calculator
Calculate your Required Minimum Distribution (RMD) from a Traditional IRA or 401(k) based on current IRS life expectancy tables (updated for the SECURE 2.0 Act).
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Formula
RMD = Account Balance / Life Expectancy FactorAccount Balance- Balance on December 31 of the prior year
Life Expectancy Factor- IRS Uniform Lifetime Table value based on your age
Example
Calculating a 75-Year-Old's RMD
An individual turns 75 this year and had a $500,000 Traditional IRA balance on December 31st of last year.
- Look up IRS factor: The Uniform Lifetime Table factor for age 75 is 24.6.
- Apply formula: $500,000 / 24.6.
- Result: The Required Minimum Distribution for this year is $20,325.20.
Frequently Asked Questions
Under the SECURE 2.0 Act, if you were born in 1951 through 1959, RMDs begin at age 73. If you were born in 1960 or later, RMDs begin at age 75.
No. Original owners of Roth IRAs are never forced to take minimum distributions during their lifetime.
The penalty was recently reduced, but it is still severe: 25% of the amount you were supposed to withdraw but didn't (which can be reduced to 10% if corrected in a timely manner).