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Calculate your IRS-required minimum distributions from traditional IRAs, 401(k)s, and other tax-deferred accounts. Avoid the 25% penalty by knowing exactly what you must withdraw.
The IRS requires account holders to begin taking Required Minimum Distributions (RMDs) from traditional IRAs, 401(k)s, and most other tax-deferred retirement accounts starting at age 73 (under the SECURE 2.0 Act). The RMD amount is calculated by dividing the account balance as of December 31 of the prior year by a life expectancy factor from the IRS Uniform Lifetime Table. For a 73-year-old, the distribution period is 26.5 years, so a $500,000 balance requires an RMD of roughly $18,868. Failing to take the full RMD results in a 25% excise tax on the shortfall (reduced to 10% if corrected within two years). Enter your age and prior-year-end account balance to calculate your RMD, the applicable distribution period factor, estimated tax at 24%, and the penalty if the distribution is missed.
A typical scenario using default values
{
"age": 73,
"account_balance": 500000
}