Milan Prastalo
Your RMD start age: 73
years
$
%
RMDs apply to traditional IRAs, SEP and SIMPLE IRAs and workplace retirement plans. If you have more than one IRA, figure the RMD for each one.
Your RMD this year
| Year | Age | Balance on Dec 31 the year before | IRS factor | RMD |
|---|
The next 10 years assume the balance grows at the rate you enter and each year's RMD is taken out.
- Your first RMD can wait until April 1 of the year after you reach your start age. Every RMD after that is due by December 31.
- This uses the IRS Uniform Lifetime Table (Table III). If your only beneficiary is your spouse and your spouse is more than 10 years younger than you, the IRS uses a different table (Table II in Publication 590-B) instead.
- If you miss an RMD, the amount you did not take can face a 25% excise tax, or 10% if you fix it within two years.
- Check every year, the rules change.