Required Minimum Distributions

Required Minimum Distributions Calculator
The IRS requires that you begin withdrawing at least a minimum amount from your Traditional IRA (and, generally, other tax-qualified retirement plans) by April 1 of the year following the year you reach age 70½. These minimum withdrawals are referred to as required minimum distributions (RMD).

You have some flexibility in terms of when you actually have to take the first-year required distribution. You can take it during the year you reach age 70½, or you can delay it until April 1 of the following year. Since this first distribution generally must be taken no later than April 1 following the year you reach age 70½, this is known as your required beginning date.

Required distributions for subsequent years must be taken no later than December 31 of each calendar year until you die or your balance is reduced to zero. This means that if you opt to delay your first distribution until the following year, you will be required to take two distributions during that year--your first year's required distribution and your second year's required distribution.

Example. You own a Traditional IRA. You reached age 70½ on August 20, 2002. For 2002, you can take the required minimum distribution for that year. However, you may choose to delay this distribution until April 1, 2003. For 2003, you must receive the required minimum distribution by December 31, 2003. Choosing to delay your first distribution until the year after you reached age 70½ will result in two required distributions for that latter year.

Calculate Your Required Minimum Distribution
(For use by all owners, except married owners whose sole primary beneficiary is a spouse more than 10 years younger)