Fidelity RMD Calculator
Use this calculator to estimate your Required Minimum Distribution (RMD) from your IRA or 401(k) for the current year. RMDs are generally required once you reach age 73 (or 72 if you turned 72 before 2023).
Understanding Required Minimum Distributions (RMDs)
Required Minimum Distributions (RMDs) are amounts that you must withdraw from your traditional IRA, SEP IRA, SIMPLE IRA, 401(k), 403(b), 457(b), and other defined contribution plans once you reach a certain age. These rules are set by the IRS to ensure that taxes are eventually paid on tax-deferred retirement savings.
When Do RMDs Start?
The age at which RMDs begin has changed over time due to legislative acts:
- 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 generally start at age 75.
For most individuals currently reaching RMD age, the starting age is 73.
How RMDs Are Calculated
Your RMD for a given year is calculated by dividing your account balance as of December 31st of the previous year by a "distribution period" factor provided by the IRS. The distribution period factor is determined by your age and, in some specific cases, your spouse's age.
The most commonly used table for determining the distribution period is the Uniform Lifetime Table. This table is used by most IRA owners and 401(k) participants. However, there are two other tables:
- Joint Life and Last Survivor Expectancy Table: Used if your sole primary beneficiary is your spouse and your spouse is more than 10 years younger than you. This typically results in a longer distribution period and thus a smaller RMD.
- Single Life Expectancy Table: Used by beneficiaries of inherited IRAs.
Example Calculation
Let's say you are 75 years old, and your IRA balance on December 31st of the previous year was $500,000. According to the Uniform Lifetime Table, the distribution period for age 75 is 24.5.
Your RMD would be: $500,000 / 24.5 = $20,408.16
Important Considerations
- First RMD: You can delay your first RMD until April 1st of the year following the year you reach your RMD age. However, if you do this, you'll have to take two RMDs in that year (one for the previous 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 significant penalty. The penalty is generally 25% of the amount not distributed, which can be reduced to 10% if corrected in a timely manner.
- Multiple Accounts: If you have multiple IRAs, you must calculate the RMD for each IRA separately, but you can withdraw the total RMD amount from any one or more of your IRAs. For 401(k)s and other employer-sponsored plans, RMDs must generally be taken from each separate account.
- Qualified Charitable Distributions (QCDs): If you are 70½ or older, you may be able to make a Qualified Charitable Distribution (QCD) directly from your IRA to an eligible charity. QCDs can count towards your RMD and are excluded from your taxable income.
Disclaimer: This calculator provides an estimate based on current IRS rules and the Uniform Lifetime Table. It is not financial or tax advice. Consult with a qualified financial advisor or tax professional for personalized guidance regarding your specific situation.
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// Uniform Lifetime Table (Source: IRS Publication 590-B, Appendix B, Table III)
// This table is used for most IRA owners and 401(k) participants.
var uniformLifetimeTable = {
70: 27.4, // For those who turned 70.5 before 2020
71: 26.5,
72: 25.6, // For those who turned 72 before 2023
73: 26.5, // SECURE Act 2.0 changed RMD age to 73
74: 25.5,
75: 24.5,
76: 23.5,
77: 22.5,
78: 21.6,
79: 20.7,
80: 19.8,
81: 18.9,
82: 18.1,
83: 17.3,
84: 16.5,
85: 15.7,
86: 15.0,
87: 14.3,
88: 13.6,
89: 12.9,
90: 12.2,
91: 11.5,
92: 10.8,
93: 10.1,
94: 9.5,
95: 8.9,
96: 8.4,
97: 7.8,
98: 7.3,
99: 6.8,
100: 6.4,
101: 6.0,
102: 5.6,
103: 5.2,
104: 4.9,
105: 4.6,
106: 4.3,
107: 4.1,
108: 3.9,
109: 3.7,
110: 3.4,
111: 3.3,
112: 3.1,
113: 2.9,
114: 2.8,
115: 2.6,
116: 2.5,
117: 2.3,
118: 2.2,
119: 2.1,
120: 2.0,
121: 1.9,
122: 1.8,
123: 1.7,
124: 1.6,
125: 1.5,
126: 1.4,
127: 1.3,
128: 1.2,
129: 1.1,
130: 1.0
};
function toggleSpouseAgeInput() {
var isSpouseYoungerCheckbox = document.getElementById("isSpouseYounger");
var spouseAgeGroup = document.getElementById("spouseAgeGroup");
if (isSpouseYoungerCheckbox.checked) {
spouseAgeGroup.style.display = "block";
} else {
spouseAgeGroup.style.display = "none";
document.getElementById("spouseAge").value = ""; // Clear spouse age if unchecked
}
}
function calculateRMD() {
var accountBalanceInput = document.getElementById("accountBalance");
var yourAgeInput = document.getElementById("yourAge");
var isSpouseYoungerCheckbox = document.getElementById("isSpouseYounger");
var spouseAgeInput = document.getElementById("spouseAge");
var resultDiv = document.getElementById("result");
var accountBalance = parseFloat(accountBalanceInput.value);
var yourAge = parseInt(yourAgeInput.value);
var spouseAge = parseInt(spouseAgeInput.value);
resultDiv.innerHTML = ""; // Clear previous results
// Input validation
if (isNaN(accountBalance) || accountBalance < 0) {
resultDiv.innerHTML = "Please enter a valid previous year-end account balance.";
return;
}
if (isNaN(yourAge) || yourAge 130) {
resultDiv.innerHTML = "Please enter a valid age for yourself (1-130).";
return;
}
if (isSpouseYoungerCheckbox.checked && (isNaN(spouseAge) || spouseAge 130)) {
resultDiv.innerHTML = "Please enter a valid age for your spouse (1-130).";
return;
}
// Determine RMD start age based on current rules (SECURE Act 2.0)
// This calculator assumes the current RMD age of 73 for simplicity.
// For specific birth year rules, users should consult IRS publications.
var rmdStartAge = 73;
if (yourAge 10) {
// For the Joint Life and Last Survivor Expectancy Table, a more complex lookup is needed.
// This calculator uses the Uniform Lifetime Table for simplicity, but advises the user.
specialSpouseNote = "
Note: Since your spouse is your sole primary beneficiary and more than 10 years younger, you
may be able to use the Joint Life and Last Survivor Expectancy Table, which could result in a lower RMD. This calculator uses the Uniform Lifetime Table. Please consult IRS Publication 590-B or a financial advisor for precise calculations in this specific scenario.";
} else {
// Spouse is not more than 10 years younger, or not sole beneficiary
// So Uniform Lifetime Table still applies, but clear the note if it was there
isSpouseYoungerCheckbox.checked = false; // Uncheck the box if condition not met
toggleSpouseAgeInput(); // Hide spouse age input
}
}
// Get distribution period from Uniform Lifetime Table
if (uniformLifetimeTable[yourAge]) {
distributionPeriod = uniformLifetimeTable[yourAge];
} else if (yourAge > 130) {
distributionPeriod = uniformLifetimeTable[130]; // Use max table value for ages beyond table
} else {
resultDiv.innerHTML = "Could not find a distribution period for your age. Please check your input.";
return;
}
var rmdAmount = accountBalance / distributionPeriod;
resultDiv.innerHTML =
"
Your Estimated RMD: $" + rmdAmount.toFixed(2).replace(/\B(?=(\d{3})+(?!\d))/g, ",") + "" +
"
Previous Year-End Account Balance: $" + accountBalance.toFixed(2).replace(/\B(?=(\d{3})+(?!\d))/g, ",") + "" +
"
Your Current Age: " + yourAge + "" +
"
Distribution Period Factor (" + tableUsed + "): " + distributionPeriod + "" +
specialSpouseNote;
}