Required Minimum Distribution Calculator

Clients now have the ability to calculate the Required Minimum Distribution (RMD) for all RMD applicable Individual Retirement Accounts (IRA). This calculator will show the total withdrawn amount to date and the remaining amount to withdraw.

Note: The RMD calculator is only available for Traditional IRA, Rollover IRA, SEP IRA, advisor master accounts, and broker master accounts.

From Home, click the Tools tab and select Required Minimum Distribution Calculator.

IRA Balance

The RMD is based on the IRA balance from the immediately preceding calendar year. The account balance is increased for any rollover deposits from the immediately preceding year. The IRA owner may aggregate the RMDs of all IRAs and withdraw that amount from any one or more of their IRAs. This aggregation rule does not apply to certain types of retirement accounts.

Date Of Birth

Based on the IRA owner's date of birth, they are due for an RMD on or before December 31st of the current year if they either turned 70 and a half in 2019 or before, or turned 72 in 2019 or before.

Note: The RMD age changed from 70½ to 72 when the Secure Act passed in 2019. If you turned 70½ before 2020, you may be subject to RMDs. For 2020 and after, you may be subject to RMDs beginning at age 72.

Beneficiary Model

One of three tables are used to calculate your RMD as required by the Internal Revenue Service. The Uniform Lifetime Model is used for all unmarried IRA owners calculating their own withdrawals, married owners whose spouses are not more than 10 years younger, and married owners whose spouses are not the sole beneficiaries of the IRA owner.

Required Minimum Distribution

The RMD was determined by dividing the fair market value of the IRA by a calculation factor derived from the Uniform Lifetime beneficiary model. The IRA owner may withdraw more than their RMD.