Required Minimum Distributions (RMDs) are withdrawals that individuals must take from certain retirement accounts once they reach a specific age. The purpose of RMDs is to ensure that retirement funds are gradually taxed over time. These rules apply primarily to Traditional IRAs, SEP IRAs, SIMPLE IRAs, and employer-sponsored retirement plans like 401(k)s and 403(b)s. Roth IRAs do not have RMDs for the original owner.
How the IRA RMD Calculator Works
The calculation for your RMD is based on the account balance and your age. The IRS provides life expectancy tables that are used to determine the distribution period. For most IRA owners, the IRS Uniform Lifetime Table is used.
The Basic Formula:
RMD = (Account Balance as of December 31st of the previous year) / (Life Expectancy Factor)
In this calculator:
IRA Account Balance: This represents the total value of your IRA (Traditional, SEP, SIMPLE) on December 31st of the preceding year.
Your Current Age: The age of the account owner during the year for which the RMD is being calculated.
Year for RMD Calculation: The specific calendar year for which you need to determine your RMD. This helps in referencing the correct IRS table for the distribution year, though for common ages, the distribution period tends to be consistent year-over-year.
IRS Life Expectancy Factors (Uniform Lifetime Table – Excerpt)
The life expectancy factor changes based on age. Here's a simplified excerpt from the IRS Uniform Lifetime Table (Table III of Appendix B to IRS Publication 590-B):
Age 72: 27.4
Age 73: 26.5
Age 74: 25.6
Age 75: 24.7
Age 76: 23.8
Age 77: 22.9
Age 78: 22.0
Age 79: 21.1
Age 80: 20.2
Age 81: 19.4
Age 82: 18.5
Age 83: 17.7
Age 84: 16.9
Age 85: 16.1
Age 86: 15.3
Age 87: 14.5
Age 88: 13.8
Age 89: 13.1
Age 90: 12.4
Note: The IRS updates these tables periodically. For the most current and official factors, always refer to the latest IRS Publication 590-B.
When Are RMDs Required?
For those who reached age 70 1/2 before January 1, 2020, RMDs began at age 70 1/2. For individuals who turn age 72 or later, RMDs begin at age 72. The SECURE Act 2.0, passed in late 2022, increased the RMD age to 73 starting in 2023 and will move it to age 75 in 2033. This calculator uses age 73 as a common starting point.
Important Considerations:
Account Balance Date: The RMD calculation uses the account balance as of December 31st of the *previous* year.
Spouse Beneficiary: If your spouse is more than 10 years younger than you and is the sole beneficiary, you may use the Joint Life Expectancy Table (Table II), which results in a smaller RMD.
Multiple Accounts: If you have multiple Traditional IRAs, you must calculate the RMD for each account separately but can take the total RMD amount from any one or combination of your Traditional IRA accounts. For 401(k)s and other qualified plans, RMDs must be calculated and taken from each plan individually.
Penalties: Failing to take your RMD can result in a significant penalty, typically 25% of the amount not withdrawn, which can be reduced to 10% if corrected in a timely manner.
Consult a Professional: This calculator is for informational purposes only and does not constitute financial or tax advice. Always consult with a qualified financial advisor or tax professional for personalized guidance.
function getLifeExpectancyFactor(age) {
var factors = {
73: 26.5, 74: 25.6, 75: 24.7, 76: 23.8, 77: 22.9, 78: 22.0, 79: 21.1,
80: 20.2, 81: 19.4, 82: 18.5, 83: 17.7, 84: 16.9, 85: 16.1, 86: 15.3,
87: 14.5, 88: 13.8, 89: 13.1, 90: 12.4, 91: 11.7, 92: 11.1, 93: 10.5,
94: 9.9, 95: 9.3, 96: 8.8, 97: 8.3, 98: 7.8, 99: 7.3, 100: 6.9,
101: 6.5, 102: 6.1, 103: 5.7, 104: 5.4, 105: 5.1, 106: 4.8, 107: 4.5,
108: 4.2, 109: 4.0, 110: 3.7, 111: 3.5, 112: 3.3, 113: 3.1, 114: 2.9,
115: 2.7, 116: 2.5, 117: 2.3, 118: 2.2, 119: 2.0, 120: 1.9, 121: 1.8,
122: 1.7, 123: 1.6, 124: 1.5, 125: 1.4, 126: 1.3, 127: 1.3, 128: 1.2,
129: 1.1, 130: 1.1
};
// Find the factor for the exact age or the closest available if age is not listed
// For ages below 73, the table starts earlier but this calculator focuses on RMD age 73+
if (age 130) { // Upper limit of the typical table
return factors[130]; // Use the last available factor for very advanced ages
}
return factors[age] !== undefined ? factors[age] : undefined;
}
function calculateRmd() {
var balance = parseFloat(document.getElementById("accountBalance").value);
var age = parseInt(document.getElementById("age").value, 10);
var distributionYear = parseInt(document.getElementById("distributionYear").value, 10); // Not directly used in calculation but kept for context
var resultDiv = document.getElementById("result");
var resultParagraph = resultDiv.querySelector("strong");
if (isNaN(balance) || isNaN(age) || balance < 0 || age <= 0) {
resultParagraph.textContent = "Please enter valid positive numbers for balance and age.";
resultDiv.style.backgroundColor = "#ffc107"; // Warning yellow
return;
}
// Check if the age is within the RMD applicable range (generally 73+)
// According to SECURE 2.0, RMD age is 73 starting 2023, then 75 in 2033.
// For simplicity, this calculator assumes RMDs are mandatory from age 73.
if (age < 73) {
resultParagraph.textContent = "RMDs are typically required starting at age 73 (or 75 in 2033).";
resultDiv.style.backgroundColor = "#ffc107"; // Warning yellow
return;
}
var lifeExpectancyFactor = getLifeExpectancyFactor(age);
if (lifeExpectancyFactor === undefined || lifeExpectancyFactor === 0) {
resultParagraph.textContent = "Could not find a life expectancy factor for this age. Please consult IRS tables.";
resultDiv.style.backgroundColor = "#ffc107"; // Warning yellow
return;
}
var rmdAmount = balance / lifeExpectancyFactor;
// Format the result to two decimal places
resultParagraph.textContent = "$" + rmdAmount.toFixed(2);
resultDiv.style.backgroundColor = "var(–success-green)"; // Reset to success green
}