If you hold retirement funds in a tax-deferred account (IRA, 401(k), etc),
federal law requires that you begin withdrawing at least a minimum amount
each year once you reach age 70 1/2. This calculator will assist you in
determining your required minimum distribution (RMD) under new IRS rules
passed in January, 2001.
Please note that the new rules apply automatically to IRAs, but other types
of retirement plans must be amended to adopt them (please see your plan
sponsor). The new rules (which this calculator is based on) also do not
apply if your primary beneficiary is a spouse who is more than ten years
younger than you.
The deadline for your first RMD is generally April 1 of the year after you
reach age 70 1/2. In subsequent years, your RMD deadline is December 31.