Required Minimum Distribution (RMD) - Year To Begin

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Use this calculator to determine when you must start your Required Minimum Distribution (RMD) for your retirement account. The IRS requires that you withdraw at least a minimum amount - known as a Required Minimum Distribution - from some types of retirement accounts annually. When you are required to start taking distribution depends on your birthdate.

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Required Minimum Distribution (RMD) - Year To Begin Definitions

Year of RMD: The year for the RMD calculation. This is usually the current year, but past and future year RMDs can be calculated by changing this value.
Prior year account balance: This is the fair market value of the account as of the close of business on December 31^st of the prior year. **RMD_EXAMPLE_YEAR_END_BALANCE** For traditional IRAs, no adjustments are made for contributions or distributions after that date. If you made a transfer or rollover from one account on or before December 31^st of the prior year and the funds were received by a new account in the next year, you will need to increase your December 31^st fair market value by the amount that was transferred or rolled over and not included in the December 31^st value of either account.
Owner's birthdate: The account owner's birthdate. The tool uses this to calculate the account owner's age as of December 31^st of the distribution year.
Age of first Required Minimum Distribution (RMD): **2024_RMD_CALCULATION_NOTE**
Year of first RMD: This is the year you are required, or were required, to begin RMDs. Normally an RMD is required to be taken by December 31^st of the distribution year. However, for the first year distribution, you have until April 1st of the following year to take the distribution. If you delay your distribution into the next calendar year, you will still be required to take the normally required RMD for that year as well. The delay doesn't reduce the amount that needs to be taken out of the account.
Required Minimum Distribution (RMD): This is the calculated Required Minimum Distribution for the age, year of distribution, and account balance entered. This calculation uses the Uniform Life Expectancy table. If you are married and your spouse is more than 10 years younger, you may be able to use the Joint Life Expectancy table which will produce a longer life expectancy. This calculator doesn't account for this situation, but calculated RMD will never be lower than the required amount.