Calculate Your Required Minimum Distribution
Your Required Minimum Distribution (RMD) is based upon the value of your account, your age and, in some cases, the age of your spouse.
When to Begin Taking Your RMD*
RMDs are the Internal Revenue Service’s (IRS) way to ensure that retirees can’t defer paying tax on the funds in their retirement accounts (e.g. traditional IRAs and 401(k) plans) indefinitely. Under the previous rule, once a retiree reached age 72, they were required to make mandatory withdrawals from their plan account each year.
Under SECURE 2.0, the age for RMDs was increased to 73 — offering employees an additional year to increase the savings in their tax-free retirement accounts and avoid a taxable distribution. Their first RMD must be taken by April 1 of the year they turn 73, and by December 31 each following year.
Then, starting in 2033, SECURE 2.0 again pushes the age at which RMDs must start to 75.
|Birth Date||Applicable RMD Age|
|Before July 1, 1949||70 1/2|
|July 1, 1949 – 1950||72|
|1951 – 1959||73|
|1960 or later||75|
All subsequent RMDs must be taken by December 31 each year.