RMD Calculator
Work out this year's required minimum distribution (RMD) from a traditional IRA or 401(k).
About the RMD Calculator
Owners of traditional IRAs and most workplace plans must withdraw a minimum each year from age 73 (rising to 75 for people born in 1960 or later under SECURE 2.0). The RMD is last year-end balance divided by the factor for your age in the IRS Uniform Lifetime Table. If your spouse is your sole beneficiary and more than 10 years younger, the Joint Life table gives a smaller RMD.
The formula
RMD = balance on 31 Dec last year ÷ distribution period for your age
Worked example
Example: Required minimum distribution = $31,073.45
- Inputs: Age at the end of this year: 83 years; Account balance on 31 December last year: $550,000.
- Formula: RMD = balance on 31 Dec last year ÷ distribution period for your age
- Result: Required minimum distribution = $31,073.45
Things to keep in mind
- Missing an RMD can trigger a 25% excise tax on the shortfall (10% if corrected promptly).
Questions people ask
Do Roth IRAs have RMDs?
Not for the original owner.
When must I take it?
By 31 December; the first can wait until 1 April the next year, but then you take two that year.