IRA Current RMD Calculator for IRA Owners Age 70-1/2 and Older

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IRA Required Minimum Distribution Calculator

This calculator will estimate the required minimum distribution factor and the amount for the current distribution year (IRA owners age 70 and older). Plus, the calculator will even tell you which IRS Life Expectancy Table it used. The Learn tab includes answers to:

When do distributions start?
What is the RMD formula?
What time of the year are distributions due?

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DataData recordData recordSelected data record: None

Prior yr bal:Prior year bal:Balance as of 12/31 of year prior:Balance on 12/31 of year prior to distribute year:

Balance as of 12/31 of year prior

Dist yr age:Dist yr end age:Age on 12/31 of distribution year:Age as of 12/31 of distribution year:

Age as of 12/31 of distribution year

Benefic age:Beneficiary age:Beneficiary age:Beneficiary age:

Beneficiary age (if applicable)

Dist factor:Distribute factor:Distribution factor:Distribution factor:

RMD:RMD:Required Minimum Distribution:Required Minimum Distribution:

If you would like to save the current entries to the secure database, tap or click on the Data tab, select "New Data Record", give the data record a name, then tap or click the Save button. To save changes to previously saved entries, simply tap the Save button. Please select and "Clear" any data records you no longer need.

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Step #1:

Enter the IRA balance as of December 31st of the year prior to the distribution year.

Step #2:

Select your age as of December 31st of the distribution year.

Step #3:

If your spouse is the sole beneficiary and is more than 10 years younger than you, enter your spouse's age as of December 31st of the distribution year. Otherwise leave this field blank.

Step #4:

Click the "Calculate RMD" button. This will look up and display your distribution factor and then calculate the distribution amount based on that factor.

Saving Entries:

If your web browser supports Local Storage, you can save your entries to your web browser so won't have to start over on your next visit. Please note that your saved entries can only be retrieved from the same device and web browser you were using when you stored them. If you would like to access your saved entries from any device I invite you to subscribe to the Ad-Free Member Version.

To save your entries to your web browser, click or tap the Data tab in the Help and Tools section (mobile: top right of the main screen), select "New Data Record" from the drop-down menu, enter a name for the data record, and then tap or click the Save button.

To load previously saved entries, click or tap the Data tab and select the saved data record from the drop-down menu. You can then save any changes to your entries by simply clicking the Save button while the data record is selected.

To clear a named set of saved entries, click or tap the Data tab, select the saved data record from the drop-down menu, and then tap or click the Clear button.

Numbers and Decimals:

Only numeric characters (0-9 and decimal points) may be entered in numeric fields. Non-numeric characters (dollar signs, percent signs, commas, etc.) may cause calculation errors. If the field includes a grid icon, tapping the icon will open a popup keypad which will include only the characters allowed in the field. If your device keypad does not include a decimal point, use this popup keypad to enter decimal numbers where applicable.

Popup Tool Tips:

Tap the info (i) icons for a further explanation of each entry field (you can click [X] or outside of the pop-up tool tips to close them). A summary of these explanations, along with any additional term explanations, can also be found under the Terms tab.

Disclaimer:

Since I can't test for every possible combination of numbers, please be sure to double-check the results of this calculator yourself before considering them to be valid. If you do discover an issue with the calculated results, please report the issue using the feedback form located below the calculator.

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Calculator Data

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Help and Tools

Learn

Minimum distribution basics and the RMD formula.

When Do Distributions Start?

Minimum distribution requirements come into play when an owner of a qualified retirement plan reaches age 70-1/2, or when a beneficiary assumes or inherits and IRA from the deceased owner.

The withdrawal for the first year of the distribution can be deferred to the following year (for tax purposes), but must be withdrawn before April 1st. After that withdrawals must me made prior to December 31st. The penalty for insufficient distributions is 50% of the undistributed amount.

Minimum Distribution Formula

In order to calculate the amount of your required minimum distribution, you first need to look up your life expectancy factor in the IRS life expectancy tables. Once you find your life expectancy factor, you then divide the year-end balance of your IRA by that factor. The result is the amount you are required to withdraw from your IRA by the end of the current year (or April 15th of the following year if this is your first year of making required withdrawals).

IRS Life Expectancy Tables

IRS Life Expectancy Tables are three tables provided by IRS Publication 590-B for determining minimum distribution requirements for qualified retirement plans. The three tables are Single, Joint Life and Last Survivor, and Uniform Lifetime.

How the IRA RMD Calculator Works

The IRA RMD calculator is based on Table II (Joint Life and Last Survivor Expectancy) and Table III (Uniform Lifetime) Table from IRS Publication 590-B (2014) (opens new window).

If your spouse is the sole beneficiary and is more than 10 years younger than you, Table II is used. If you are unmarried or your spouse is not more than 10 years younger than you, or your spouse is not your sole beneficiary, Table III is used. In either case, the calculator will indicate which table it used in the displayed results.

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IRA Required Minimum Distribution Calculator

IRA Required Minimum Distribution Calculator

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About

Instructions

Step #1:

Step #2:

Step #3:

Step #4:

Saving Entries:

Numbers and Decimals:

Popup Tool Tips:

Disclaimer:

Scrolling & Shrinking:

Disclaimer:

Glossary

Pocket Calculator

Data Management

Favorites

Side Calc Tape

About the Redesign

IRA Required Minimum Distribution Calculator

Selected Data Record:

Balance as of 12/31 of year prior to distribution year:

Age as of 12/31 of distribution year:

Beneficiary age:

Distribution factor:

Required Minimum Distribution:

Monthly "What's New" Email Update:

About

Instructions

Step #1:

Step #2:

Step #3:

Step #4:

Saving Entries:

Numbers and Decimals:

Popup Tool Tips:

Disclaimer:

Scrolling & Shrinking:

Disclaimer:

Glossary

Pocket Calculator

Data Management

Calculator Data:

My Note:

Help and Tools:

Favorites