RMD Calculator

Year of birth Year of RMD Account balance as of 12/31/2024 Expected return rate %

Required Minimum Distributions (RMDs) are mandatory withdrawals from certain retirement accounts starting at age 73. This calculator helps estimate your yearly RMD based on your account balance, age, and IRS tables.

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When you reach 73, the IRS requires you to withdraw a minimum amount from your tax-deferred retirement accounts every year. This amount ensures that you eventually pay taxes on the money you’ve been deferring.

Your first RMD must be taken by April 1 of the year following the year you turn 73. Subsequent distributions are due by December 31 each year. Delaying your first RMD may cause two distributions in one year, which can increase taxable income.

To calculate your RMD, take your retirement account balance as of December 31 from the previous year and divide it by your distribution period from the IRS life expectancy tables. These tables adjust based on your age, marital status, and beneficiary information.

Different IRS tables apply depending on your situation: - The Uniform Lifetime Table for most individuals, - The Joint Life and Last Survivor Table if your spouse is the sole beneficiary and significantly younger, and - The Single Life Table for beneficiaries who inherit accounts.

Your RMD amount fluctuates yearly as your account balance and distribution period change. The calculator can project future balances assuming a certain rate of return and planned withdrawals.

RMD rules apply to traditional IRAs, 401(k)s, SEP IRAs, SIMPLE IRAs, and similar accounts but not Roth IRAs while the owner is alive.

Missing an RMD can trigger steep IRS penalties, initially 25% of the amount not withdrawn, reduced to 10% if corrected in time.

If you continue working after 73 and don’t own more than 5% of your employer, you may delay RMDs from that employer's plan until retirement.

Planning your RMD strategy can minimize taxes and extend your retirement savings, and our calculator simplifies this complex task by providing clear estimates based on IRS guidelines.

Whether managing multiple accounts or considering beneficiary rules, understanding and computing your RMD is essential to staying compliant and optimizing your retirement income.