How it works
A required minimum distribution (RMD) is the least you must withdraw each year from a traditional IRA, SEP or SIMPLE IRA, 401(k), 403(b) or similar plan once you reach RMD age. Roth IRAs have no RMDs while the owner is alive, and since 2024 neither do Roth 401(k)s.
The amount is your account balance on December 31 of the prior year divided by a distribution period from the IRS Uniform Lifetime Table, based on the age you reach this year. The divisor shrinks each year, so the share you must take grows.
Under the SECURE 2.0 Act, RMDs start at age 73 if you were born from 1951 to 1959, and at 75 if you were born in 1960 or later. Your first RMD can wait until April 1 of the next year, but then you take two in that year.
If you have several IRAs, figure the RMD for each and take the total from any one or more of them. 401(k) RMDs must come out of each plan separately. This is an estimate, not tax advice; check with your plan or a tax professional.
Formula
RMD = account balance on Dec 31 of prior year ÷ Uniform Lifetime Table distribution period for your age this year
Questions people ask
What is the RMD at age 75?
The divisor at 75 is 24.6, so you must withdraw about 4.07% of the prior year-end balance. On $500,000 that is $20,325.20.
What happens if I miss an RMD?
The IRS excise tax is 25% of the amount you should have taken, cut to 10% if you correct it within two years. You can ask for a waiver on Form 5329 if the miss was a reasonable error.
Do I have to take my RMD all at once?
No. You can take it in one payment or spread it over the year, as long as the total is out by December 31 (April 1 of the next year for your first RMD).
Can I take more than the RMD?
Yes. The RMD is a minimum. Extra withdrawals are taxed as income but do not count toward next year’s RMD.