RMD Calculator (Required Minimum Distribution)
Work out the minimum you must withdraw from your retirement account each year.
What an RMD is
After a certain age you must start taking money out of traditional IRAs and most workplace plans each year. The amount is your balance at the end of the previous year divided by a distribution period from the IRS Uniform Lifetime Table.
When RMDs start
- Born in 1950 or earlier: age 72.
- Born 1951 to 1959: age 73.
- Born in 1960 or later: age 75.
Example
At age 75 with $500,000, the distribution period is 24.6, so the RMD is $20,325. At age 80 the period is 20.2, so the same balance would require $24,752. Missing an RMD can lead to a penalty of 25% of the shortfall (10% if corrected quickly).
This uses the Uniform Lifetime Table, which applies to most owners, including those whose spouse is not more than 10 years younger. Inherited accounts and spouses more than 10 years younger use other tables. Roth IRAs have no RMDs for the original owner.
Frequently asked questions
Can I take more than the minimum?
Yes. The RMD is a minimum, and you can withdraw more, though extra withdrawals are taxable.
Do I take an RMD from each account?
IRA RMDs can be added up and taken from any IRA. Workplace plans such as a 401(k) usually need their own.
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