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Required Minimum Distribution (RMD) - Current Year
The IRS requires that you withdraw at least a minimum amount - known as a Required Minimum Distribution - from some types of retirement accounts annually, starting the year you turn age 72 (or 70 1/2 if you were born before 7/1/1949). Determining how much you are required to withdraw is an important issue in retirement planning. Use this calculator to determine your Required Minimum Distributions. This calculator has been updated for the 'SECURE Act of 2019 and CARES Act of 2020'.Financial Calculators from
Dinkytown.net
Plan Information: |
Required minimum distribution for 2025 |
Definitions
Calculation notes
This calculator has been updated for 2024 to include 'SECURE 2.0' and IRS Notices from 2023 and 2024. SECURE 2.0 increases the age of Required Minimum Distribution (RMD) for account owners. Secure 2.0 did not change how the RMD is calculated; it only changed the age that they start. These rules took effect January 1st, 2023.
| Birthdate | Age* |
|---|---|
| Account owners born on or before 6/30/1949 | 70 1/2* |
| 7/1/1949 through 12/31/1950 | 72* |
| 1/1/1951 through 12/31/1959 | 73* |
| Account owners born on or after 1/1/1960 | 75* |
| *Age of account owner as of 12/31 of the distribution year. This RMD chart only applies to the original account owner or a spouse who chooses to treat their inherited account as their own. | |
The CARES Act of 2020 provided a temporary waiver of RMDs. The RMD waiver is for retirement plans and accounts for 2020. This includes direct contribution plans such as 401k, 403b, 457b plans and IRAs. RMDs were also waived for IRA owners who turned 70 1/2 in 2019 and were required to take an RMD by April 1, 2020.
If you have RMD questions, please consult with your own tax advisor regarding your specific situation. If you are under 75 and this RMD is from a 403(b) plan, you may not be required to take distributions on the balance in your account before 1987 until you reach age 75. You may need to contact a financial planner or CPA to determine if this exception applies to your RMD.
IMPORTANT! This calculator has been updated for the Secure 2.0 (2022), SECURE Act of 2019 and the CARES Act of 2020 and IRS Notices regarding these acts from 2023 and 2024. Future IRS published procedures may have an impact on enforcement and interpretation of these Acts.
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 31st 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 31st 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 31st of the prior year and the funds were received by a new account in the next year, you will need to increase your December 31st fair market value by the amount that was transferred or rolled over and not included in the December 31st 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.
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