RMD Calculator
Calculate your Required Minimum Distribution for retirement accounts according to IRS Publication 590-B
Calculate Your RMD
What is RMD?
Required Minimum Distribution (RMD) is the minimum amount you must withdraw from your retirement account each year once you reach age 73 (as of 2023).
- Applies to traditional IRAs and employer-sponsored plans
- Does not apply to Roth IRAs while the owner is alive
- Based on IRS life expectancy tables
- Must be taken by December 31 each year
Your RMD Results
Next Steps
Your RMD must be withdrawn by December 31 to avoid a 25% penalty on the amount not withdrawn. Consider consulting with a tax professional to plan your withdrawals strategically.
Frequently Asked Questions
What accounts require RMDs?
RMD rules apply to: Traditional IRAs, SEP IRAs, SIMPLE IRAs, 401(k) plans, 403(b) plans, 457(b) plans, profit sharing plans, and other defined contribution plans. Roth IRAs do not require withdrawals until after the death of the owner.
When must I take my first RMD?
Your first RMD must be taken by April 1 of the year following the year you turn 73. Subsequent RMDs must be taken by December 31 of each year. Note that taking your first RMD by April 1 means you’ll take two distributions in that year.
What happens if I miss taking my RMD?
If you fail to take your RMD by the deadline, the IRS may impose a 25% penalty on the amount that should have been withdrawn. This penalty can be reduced to 10% if corrected in a timely manner.
Important Information
This calculator provides estimates based on IRS Publication 590-B and the information you entered. Results are for illustrative purposes only and do not represent tax advice. This calculator is intended for U.S. residents. Actual RMD amounts may vary based on your specific circumstances, including beneficiary designations and account types. The IRS updates life expectancy tables periodically – this calculator uses the most recent tables effective for 2023 and beyond. Consult with a qualified tax professional before making decisions about your retirement distributions.