RMD Calculator

Coming Soon! Our RMD calculator will help you calculate Required Minimum Distributions from your retirement accounts and plan your retirement withdrawal strategy.

What You’ll Be Able To Calculate:

  • RMD Amounts: Calculate required minimum distributions
  • Distribution Tables: Use IRS life expectancy tables
  • Multiple Accounts: RMDs from different account types
  • Spousal Beneficiaries: RMDs for inherited accounts
  • Non-Spousal Beneficiaries: RMDs for inherited accounts
  • QCD Planning: Qualified Charitable Distributions
  • Tax Implications: Tax impact of RMDs
  • Penalty Calculations: 50% penalty for missed RMDs

Key Features:

  • RMD Calculator: Calculate required distributions
  • Life Expectancy Tables: IRS distribution period tables
  • Account Aggregation: Combine multiple account RMDs
  • Beneficiary Planning: RMDs for inherited accounts
  • QCD Calculator: Qualified charitable distributions
  • Tax Calculator: Tax implications of distributions
  • Penalty Calculator: Missed RMD penalties
  • Distribution Planning: Optimize withdrawal timing

Perfect For:

  • Retirement planning
  • Required distributions
  • Tax planning
  • Estate planning
  • Charitable giving
  • Beneficiary planning
  • Financial planning
  • Compliance management

RMD Basics:

  • Required Minimum Distributions: Mandatory withdrawals from retirement accounts
  • Age 73: RMDs begin at age 73 (2023+)
  • Age 75: RMDs begin at age 75 (2033+)
  • Distribution Period: Based on life expectancy
  • Account Types: Traditional IRA, 401(k), 403(b), etc.
  • Roth IRAs: No RMDs during owner’s lifetime
  • Penalty: 50% penalty for missed RMDs
  • Deadline: December 31st each year

Account Types Subject to RMDs:

  • Traditional IRA: Individual retirement accounts
  • 401(k) Plans: Employer-sponsored retirement plans
  • 403(b) Plans: Non-profit employer plans
  • 457 Plans: Government employer plans
  • SEP IRA: Simplified Employee Pension
  • SIMPLE IRA: Savings Incentive Match Plan
  • Inherited IRAs: Beneficiary accounts
  • Roth 401(k): Employer Roth accounts

Life Expectancy Tables:

  • Uniform Lifetime Table: Most IRA owners
  • Joint and Last Survivor Table: Spouse beneficiary
  • Single Life Table: Inherited accounts
  • Distribution Period: Years to divide account balance
  • Recalculation: Annual life expectancy updates
  • Table Selection: Based on beneficiary situation
  • Age Adjustment: Current age for table lookup

RMD Calculation:

  • Account Balance: December 31st of previous year
  • Distribution Period: Life expectancy factor
  • RMD Amount: Balance divided by distribution period
  • Multiple Accounts: RMDs can be taken from any account
  • Aggregation: Combine RMDs from same account type
  • Timing: Take RMDs throughout the year
  • Deadline: December 31st deadline

Beneficiary RMDs:

  • Spousal Beneficiaries: Can roll over to own IRA
  • Non-Spousal Beneficiaries: 10-year distribution rule
  • Eligible Designated Beneficiaries: Stretch provisions
  • Inherited Account Rules: Different distribution periods
  • Death Before RBD: Different rules for early death
  • Multiple Beneficiaries: Separate account requirements
  • Trust Beneficiaries: Special trust rules

Qualified Charitable Distributions:

  • QCD Rules: Direct transfers to charity
  • Age 70½: Minimum age for QCDs
  • Annual Limit: $100,000 per year
  • Tax Benefits: Counts toward RMD, no taxable income
  • Charity Requirements: Qualified charitable organizations
  • Timing: Must be completed by December 31st
  • Documentation: Proper QCD reporting

Tax Implications:

  • Ordinary Income: RMDs taxed as ordinary income
  • Tax Bracket: Impact on marginal tax rate
  • State Taxes: State income tax on distributions
  • Medicare Premiums: RMDs affect Medicare Part B/D
  • Social Security: RMDs may affect Social Security taxation
  • Alternative Minimum Tax: AMT considerations
  • Net Investment Income Tax: 3.8% surtax for high earners

Penalty Calculations:

  • 50% Penalty: Penalty on missed RMD amount
  • Reasonable Cause: Exception to penalty
  • Correction: Take missed RMD plus penalty
  • Form 5329: Report additional taxes
  • Waiver Request: Request penalty waiver
  • Documentation: Keep records of RMD compliance
  • Professional Help: Consult tax professional

Distribution Strategies:

  • Timing: Take RMDs early or late in year
  • Tax Withholding: Withhold taxes from distributions
  • QCD Planning: Use QCDs to satisfy RMDs
  • Investment Planning: Consider RMD impact on portfolio
  • Estate Planning: RMDs and beneficiary planning
  • Charitable Giving: Combine RMDs with charitable giving
  • Tax Planning: Minimize tax impact of distributions

Planning Considerations:

  • Account Aggregation: Combine similar account types
  • Beneficiary Designation: Impact on RMD calculations
  • Life Expectancy: Health and family history
  • Tax Situation: Current and future tax rates
  • Charitable Intentions: QCD opportunities
  • Estate Goals: Inheritance and legacy planning
  • Professional Guidance: Tax and financial advisor input

Stay tuned for this essential tool for RMD planning and compliance!