Ira Rmd Calculator Table

IRA RMD Projection Calculator

Use this calculator to estimate your future Required Minimum Distributions (RMDs) from your Traditional IRA or 401(k) based on your current age, account balance, and projected growth. The calculator uses the IRS Uniform Lifetime Table factors to determine RMDs.

Understanding Required Minimum Distributions (RMDs)

Required Minimum Distributions (RMDs) are amounts that you must withdraw from your traditional IRA, SEP IRA, SIMPLE IRA, and most 401(k), 403(b), 457(b), profit-sharing, and other defined contribution plans once you reach a certain age. The purpose of RMDs is to ensure that you don't defer taxes indefinitely on your retirement savings.

When Do RMDs Start?

The age at which RMDs begin has changed over time due to legislative acts like the SECURE Act and SECURE 2.0 Act:

• If you were born in 1950 or earlier, your RMDs generally started at age 70½.
• If you were born between 1951 and 1959, your RMDs generally start at age 73.
• If you were born in 1960 or later, your RMDs will generally start at age 75.

Our calculator uses the current age 73 as the default RMD start age for projection purposes, but you should verify your specific RMD start age based on your birth year.

How RMDs Are Calculated

Your RMD for any given year is calculated by dividing your IRA or retirement plan account balance as of December 31 of the prior year by a "distribution period" factor provided by the IRS. Most individuals use the Uniform Lifetime Table, which provides a single distribution period for all account holders of the same age, regardless of their marital status or the age of their beneficiaries.

The distribution period factor decreases as you get older, meaning the percentage of your account balance you must withdraw each year increases with age.

Key Factors in RMD Calculation:

1. Prior Year-End Account Balance: This is the total value of your IRA or retirement account on December 31 of the year preceding the year for which the RMD is being calculated.
2. Your Age: Your age on December 31 of the year for which the RMD is being calculated.
3. IRS Uniform Lifetime Table: This table provides the distribution period factor corresponding to your age.

Example Calculation:

Let's say you are 73 years old, and your IRA balance on December 31 of the prior year was $500,000. According to the IRS Uniform Lifetime Table, the distribution period for age 73 is 26.5.

Your RMD for the current year would be: $500,000 / 26.5 = $18,867.92

This is the minimum amount you must withdraw. You can always withdraw more than your RMD.

Important Considerations:

• Multiple IRAs: If you have multiple traditional IRAs, you must calculate the RMD for each IRA separately. However, you can withdraw the total RMD amount from any one or more of your traditional IRAs. This flexibility does not apply to 401(k)s or other employer-sponsored plans; RMDs from these plans must be taken from that specific plan.
• First RMD Deadline: Your first RMD can be delayed until April 1 of the year following the year you reach your RMD age. However, if you delay, you'll have to take two RMDs in that subsequent year (one for the prior year and one for the current year), which could push you into a higher tax bracket.
• Penalties: Failing to take your RMD, or taking less than the required amount, can result in a hefty penalty. The penalty is 25% of the amount not distributed, which can be reduced to 10% if corrected in a timely manner.
• Qualified Charitable Distributions (QCDs): If you are 70½ or older, you can make a Qualified Charitable Distribution (QCD) directly from your IRA to an eligible charity. QCDs count towards your RMD and are excluded from your taxable income, offering a tax-efficient way to satisfy your RMD while supporting causes you care about.
• Roth IRAs: Roth IRAs are not subject to RMDs for the original owner. Beneficiaries of Roth IRAs, however, are subject to RMD rules.

This calculator provides estimates for planning purposes. Always consult with a qualified financial advisor or tax professional for personalized advice regarding your specific RMD situation.

Projected IRA RMDs

Year	Age	Prior Year-End Balance ($)	Distribution Period	RMD Amount ($)	Remaining Balance ($)	Projected Growth ($)
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