Finance & Economics / Personal Finance
Required Minimum Distribution (RMD) Calculator
About Required Minimum Distributions (RMDs)
What are RMDs? The IRS requires you to withdraw a minimum amount from tax-deferred retirement accounts starting at age 72 (73 if born in 1960 or later).
RMD Calculation: RMD = Account Balance (Dec 31 prior year) ÷ Life Expectancy Factor
Key Rules:
- RMDs must be taken by December 31 each year
- First RMD can be delayed until April 1 of the following year
- Failure to take RMD results in 25% penalty (reduced to 10% if corrected within 2 years)
- Roth IRAs do NOT require RMDs during owner's lifetime
- Each retirement account requires separate RMD calculation
Accounts Subject to RMDs:
- Traditional IRAs
- SEP IRAs
- SIMPLE IRAs
- 401(k), 403(b), 457(b) plans
- Inherited Roth IRAs (not original owner's Roth IRA)
Note: This calculator uses the IRS Uniform Lifetime Table. Consult a tax professional for your specific situation, especially for inherited accounts or if your spouse is more than 10 years younger.
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