Required Minimum Distribution (RMD) - Current Year

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Use this calculator to determine your current Required Minimum Distribution (RMD). 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 distributions is determined by the year you were born.

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Required Minimum Distribution (RMD) - Current Year Definitions

Calculation notes: **2024_RMD_CALCULATION_NOTE**
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.
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.
Amount subject to RMD: This is the fair market value of the account as of the close of business on December 31^st of the prior year. For example, to determine the RMD for 2024, use the account balance as of 12/31/2023. 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.
Is sole beneficiary a spouse?: Check this box if the sole beneficiary is a spouse. The IRS uniform life expectancy table is used to calculate the life expectancy for account owner RMDs. The only exception to this rule is if the sole beneficiary is a spouse and is more than 10 years younger than the account owner. In this situation, the IRS joint life expectancy table is used. The IRS joint life expectancy table normally produces lower required distributions.
Beneficiary's birthdate: If the sole beneficiary of the account is a spouse, enter the beneficiary's birthdate. If the spouse is more than 10 years younger than the account owner, the IRS joint life expectancy table is used which normally produces lower required distributions.