Introduction
When you turn 73, the IRS says you must start taking money out of your traditional IRA each year.1 This yearly withdrawal is called a Required Minimum Distribution, or RMD. If you skip it or take too little, you can owe a penalty.
This IRA RMD calculator shows how much you must withdraw. Just enter your age and your IRA balance from December 31 of last year. The tool divides your balance by the IRS life expectancy factor from the Uniform Lifetime Table and gives you your RMD amount right away.
You can also see:
- Your RMD as a percent of your balance
- What happens if you delay your first RMD to April 1 (which means two RMDs in one year)
- A year-by-year table of future RMDs and account balances
- Values in today's dollars if you add an inflation rate
Every answer comes with step-by-step math, so you can see exactly how the number was found. Use it to plan your withdrawals and avoid a tax surprise. If you inherited an account instead of owning it yourself, use the Inherited IRA RMD Calculator.
How to use our IRA RMD Calculator
Enter your age, your IRA balance, and a few simple assumptions. The calculator shows your required minimum distribution (RMD) for this year, the IRS life expectancy factor used, and a year-by-year projection of your future RMDs and account balance.
Your Current Age: Pick your age from the list. RMDs start at age 73, so the list begins there. Your age sets the IRS distribution period used in the math.
IRA Account Balance: Type the value of your IRA on December 31 of last year. The IRS uses that prior year-end balance, not today's balance.
Is this your first year taking RMDs? Choose "Yes" if this is your first RMD year. Choose "No" if you have taken one before.
Do you plan to delay your first RMD until the April 1 deadline? This choice only shows if it is your first year. Pick "Yes" to wait until April 1 of next year, and the tool will show both RMDs you must take in that one calendar year. Pick "No" to take it by December 31.
Expected Annual Rate of Return: Move the slider or type a percent from 0% to 12%. This is how much you think your IRA will grow each year and it shapes your future RMD amounts.
Assumed Annual Inflation Rate: Enter a percent from 0% to 8%, or leave it at 0%. Adding a rate shows your RMDs and balance in today's dollars.
Click Calculate to see your results, the step-by-step math, the projection table, and the chart. Click Reset to start over.
What Is an IRA Required Minimum Distribution (RMD)?
A required minimum distribution, or RMD, is the smallest amount you must take out of your retirement account each year once you reach a certain age. The IRS lets your money grow tax-deferred for years, but it does not let you keep it there forever. RMDs make sure that money finally gets taxed.
When RMDs Start
RMDs currently start at age 73, rising to 75 for people who reach 74 after 2032.3 Your first RMD is due by April 1 of the year after you turn 73, and every RMD after that is due by December 31 of each year.1
How the RMD Is Figured
The math is simple. You take your account balance from December 31 of last year and divide it by a number from the IRS Uniform Lifetime Table. That number is called your distribution period or life expectancy factor.
RMD = Prior year-end balance ÷ IRS distribution period
For example, at age 73 the factor is 26.5.2 A $500,000 balance divided by 26.5 gives an RMD of about $18,867. As you get older, the factor gets smaller, so your RMD becomes a bigger share of your account each year.
The Two-RMD Year Trap
If you wait until April 1 to take your first RMD, you still owe your second RMD by December 31 of that same year. That means two withdrawals in one calendar year. Both count as income, which can push you into a higher tax bracket, raise your Medicare premiums, or make more of your Social Security taxable. Taking your first RMD by December 31 of the first year often spreads the tax hit more evenly.
Which Accounts Have RMDs
- Traditional IRAs, SEP IRAs, and SIMPLE IRAs
- 401(k), 403(b), and most other workplace plans
- Roth IRAs have no RMDs while the owner is alive1
- Roth 401(k)s no longer have RMDs for the owner1
If you own more than one IRA, you add up the RMD for each one, then you may take the total from just one IRA.1 Workplace plans like 401(k)s do not work that way. Each plan needs its own withdrawal.1
Taxes and Penalties
Money you pull out of a traditional IRA is taxed as ordinary income. If you miss an RMD or take too little, the penalty is 25% of the amount you should have taken.1 That drops to 10% if you correct it within two years and file Form 5329.1
Special Rule for a Much Younger Spouse
If your only beneficiary is your spouse and they are more than 10 years younger than you, the IRS lets you use the Joint Life and Last Survivor Table instead.2 That table gives a bigger factor, so your RMD is smaller.
Ways to Lower the Tax Bite
- Qualified charitable distributions (QCDs): from age 70½ you can send IRA money straight to a charity and keep it off your taxable income.2
- Roth conversions before 73: moving money to a Roth early means smaller future RMDs.
- Still working: if you work past 73 and do not own much of the company, you may delay RMDs from that employer's plan, but not from your IRAs.1
You can always take out more than your RMD. You just cannot take less. Tax rules change, so check with a tax advisor about your own situation.