Calculating Your Required Minimum Distribution
Take your prior year’s December 31st IRA account balance, look up your age on the appropriate table, and divide your account balance by the factor (remaining distribution period) based on your age.
Example:Bob had $100,000 in his IRA on December 31st of the prior year. Bob is 70 and decides to take his first distribution in the year in which he turns 70 ½.
- $100,000 / 27.4 = $3,649.63
This is the amount Bob must withdraw for the calendar year in which he turns 70 ½.
Try an onlineRMD calculatorto estimate your current or future year's required minimum distribution.
Penalty For Not Taking A Required Minimum Distribution
The penalty for not taking a required minimum distribution is a tax of 50% on the amount that was not withdrawn in time.
For additional information on required minimum distributions see:
IRS Retirement Planning Facts Regarding Required Minimum Distributions
1st 20 Years Of The Required Minimum Distribution Table
| First Twenty Years Of The Required Minimum Distribution Table (Uniform Lifetime) |
||
| Age | Distribution Period | |
| 70 | 27.4 | |
| 71 | 26.5 | |
| 72 | 25.6 | |
| 73 | 24.7 | |
| 74 | 23.8 | |
| 75 | 22.9 | |
| 76 | 22.0 | |
| 77 | 21.2 | |
| 78 | 20.3 | |
| 79 | 19.5 | |
| 80 | 18.7 | |
| 81 | 17.9 | |
| 82 | 17.1 | |
| 83 | 16.3 | |
| 84 | 15.5 | |
| 85 | 14.8 | |
| 86 | 14.1 | |
| 87 | 13.4 | |
| 88 | 12.7 | |
| 89 | 12.0 | |
| 90 | 11.4 | |
