RMD Calculator
Calculate Required Minimum Distribution amounts for retirement accounts.
Account Information
RMD Calculation
About This Calculator
The RMD (Required Minimum Distribution) Calculator helps you determine the minimum amount you must withdraw from your traditional IRA or 401(k) account each year after reaching age 72 (or 73 if you reach age 72 after December 31, 2022). RMDs are required to ensure retirement accounts are eventually taxed.
This calculator uses the IRS Uniform Lifetime Table to estimate your RMD. If your spouse is your sole beneficiary and is more than 10 years younger, you may use the Joint Life Table for potentially lower RMDs. Always consult with a tax professional for accurate RMD calculations.
Formula & Calculation Method
RMD Calculation:
RMD = Account Balance ÷ Distribution Period
Distribution Period = From IRS Uniform Lifetime Table (based on age)
For spouses more than 10 years younger: Use Joint Life Table
The IRS provides distribution period tables based on life expectancy. The Uniform Lifetime Table is used for most account owners. The distribution period decreases each year as you age, meaning your RMD percentage increases.
How to Use This Calculator
- Enter Your Age: Input your current age (must be 72 or older for RMD).
- Enter Account Balance: Input your traditional IRA or 401(k) balance as of December 31 of the previous year.
- Enter Spouse Age: If applicable, input your spouse's age.
- Select Spouse Status: Check if your spouse is your sole beneficiary and more than 10 years younger.
- View Results: See your required minimum distribution amount and distribution period.
Frequently Asked Questions
When do I need to start taking RMDs?
You must start taking RMDs by April 1 of the year after you turn 72 (or 73 if you reach age 72 after December 31, 2022). After the first year, RMDs must be taken by December 31 each year.
What happens if I don't take my RMD?
If you fail to take your RMD, you'll face a penalty of 25% of the amount that should have been withdrawn (reduced from 50% for 2023 and later). The penalty can be waived in certain circumstances.
Do Roth IRAs have RMDs?
Roth IRAs do not have RMDs during the owner's lifetime. However, inherited Roth IRAs do have RMD requirements for beneficiaries.
Can I take more than the RMD?
Yes, you can withdraw more than the RMD amount. The RMD is just the minimum required. Any amount above the RMD is still taxable as ordinary income.
Calculator by
NumCalculators Editorial Team
Multi-disciplinary Expert Team