AARP RMD Calculator
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AARP RMD Calculator
Estimate your Required Minimum Distribution from retirement accounts.
Your Estimated RMD
—
Required Minimum Distribution
Understanding Required Minimum Distributions (RMDs)
Required Minimum Distributions (RMDs) are the amounts that individuals must withdraw annually from certain tax-deferred retirement accounts, such as Traditional IRAs, SEP IRAs, SIMPLE IRAs, 401(k)s, 403(b)s, 457(b) plans, and profit-sharing plans. The purpose of RMDs is to ensure that these tax-deferred funds are eventually taxed. Generally, you must start taking RMDs at age 73.
The IRS provides Uniform Lifetime Tables, which contain life expectancy factors based on your age. This factor is used to calculate your RMD. The formula is straightforward:
The RMD Calculation Formula
RMD = Account Balance / Life Expectancy Factor
- Account Balance: This is the total value of your retirement account(s) as of December 31st of the previous year. If you have multiple Traditional IRA accounts, you must calculate the RMD for each account separately, but you can withdraw the total RMD amount from any one or combination of your IRA accounts. For 401(k)s and other employer-sponsored plans, RMDs are calculated separately for each plan.
- Life Expectancy Factor: This number is found in the IRS's Uniform Lifetime Table. It represents the number of years the IRS estimates you have left to live, based on your age. You can find these tables on the IRS website (IRS Publication 590-B). For example, the factor for age 73 is typically 26.5, for age 74 it's 25.6, and so on. This calculator uses an approximation based on common factors, but it's always best to consult the official IRS tables for the most current and precise figures.
Who Needs to Take RMDs?
You are generally required to take RMDs if you have one of the following types of accounts and have reached age 73:
- Traditional IRAs
- SEP IRAs
- SIMPLE IRAs
- 401(k) plans
- 403(b) plans
- 457(b) plans
- Profit-sharing plans
- Other defined-contribution retirement plans
Note: Roth IRAs do not have RMDs for the original owner. However, beneficiaries of Roth IRAs may be subject to RMD rules.
When to Take Your RMD
Your RMD must be taken each year by December 31st. However, if you are taking your first RMD, you can delay it until April 1st of the year *after* you turn age 73. Be aware that if you delay your first RMD, you will have to take two RMDs in that subsequent year (your delayed first RMD and your current year's RMD), which could result in a higher tax bill.
Penalties for Not Taking RMDs
Failing to take your RMD can result in a significant penalty. The penalty is currently 25% of the amount that you were required to withdraw but did not. This penalty can be reduced to 10% if you correct the mistake in a timely manner.
Disclaimer: This calculator provides an estimation based on general IRS guidelines. It is not a substitute for professional financial or tax advice. Consult with a qualified financial advisor or tax professional for personalized guidance. The life expectancy factors used in this calculator are approximations and may not reflect the exact figures from the latest IRS Uniform Lifetime Table.
function calculateRMD() {
var balance = parseFloat(document.getElementById("accountBalance").value);
var age = parseInt(document.getElementById("lifeExpectancyFactor").value);
var resultSection = document.getElementById("resultSection");
var rmdResult = document.getElementById("rmdResult");
if (isNaN(balance) || balance < 0) {
alert("Please enter a valid current account balance.");
return;
}
if (isNaN(age) || age 130) {
factor = 2.3; // The factor for age 130
} else if (factor === undefined && age < 73) {
// For ages before RMDs start, technically no RMD is required, but calculation can still be done for illustrative purposes or if used for other projections.
// Using the factor for age 73 as a minimum for calculation logic demonstration.
// A real-world scenario might show "No RMD required yet".
factor = lifeExpectancyFactors[73] || 26.5;
// Optionally, you could display a message indicating RMDs haven't started.
}
if (factor === undefined) {
alert("Could not find a life expectancy factor for the entered age. Please consult IRS Publication 590-B.");
return;
}
var rmd = balance / factor;
// Format the result to two decimal places
rmdResult.textContent = rmd.toLocaleString(undefined, { minimumFractionDigits: 2, maximumFractionDigits: 2 });
resultSection.style.display = "block";
}