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What is my current year required minimum distribution?

This calculator provides an illustrative projection of your current year required minimum distribution (RMD), if any. The IRS requires you to make an annual minimum withdrawal from certain qualified plans after reaching a specific age based on your date of birth. The RMD is calculated annually based on the balance of the account at the end of the previous year, your age, who is the designated beneficiary of the account, and your spouse's age if they are the designated beneficiary. If you do not complete the annual RMD, you may be subject to a 25% penalty on your underpayment, plus ordinary income tax as the funds are withdrawn. Timely filing of Form 5329 may reduce the penalty to 10%. Understanding your annual RMD is an important component of effective retirement planning.

Dates Of Birth

Month
(1 to 12)		Day
(1 to 31)		Year
(1920 to 2024)
You
Beneficiary

Plan Information

Additional Information

This information may help you analyze your financial needs. It is based on information and assumptions provided by you regarding your goals, expectations and financial situation. The calculations do not infer that the company assumes any fiduciary duties. The calculations provided should not be construed as financial, legal or tax advice. In addition, such information should not be relied upon as the only source of information. This information is supplied from sources we believe to be reliable but we cannot guarantee its accuracy. Hypothetical illustrations may provide historical or current performance information. Past performance does not guarantee nor indicate future results.

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