What is my current year required minimum distribution?

Current tax law specifies that once you reach age 73, you must begin taking RMDs annually from your IRAs and other retirement plans. Generally, the RMD amount is determined based on your prior year's IRA balance of all of your IRA assets divided by your life expectancy. If RMDs are not taken annually, you may be subject to an additional 50% penalty for the amount you were supposed to take. Please note this tool is designed to provide an estimate for individuals age 73 or older.

Dates Of Births

Plan Information

Your Current Year Minimum Distribution
Plan Information And Assumptions

Based on the input you provided, your required minimum distribution has been calculated to be 455 for the 2024 calendar year.

Your date of birth12/01/1946
Your current age77
Is spouse the designated beneficiary?Yes
Beneficiary's date of birth12/01/1946
Beneficiary's current age77
Account balance at end of last year10000
Table used in analysisUniform Lifetime
Minimum distribution factor22
Minimum distribution amount455