Use this RMD calculator to estimate how much you need to withdraw from a traditional IRA or other retirement account, updated for the SECURE 2.0 Act. Then see your options for what to do next.
Questions about your RMD or IRA? Call us at (413) 733-2800 or schedule a time to talk.
Enter your information below. Fields marked * are required.
The year you are taking the distribution for, usually this year.
Your account value on December 31 of the year before the RMD year.
Used to find your age and when your RMDs begin.
Used only to project future years. This is a hypothetical rate, not a promised return.
This calculator uses the IRS Uniform Lifetime Table and the RMD start ages set by the SECURE 2.0 Act. It covers your own traditional IRAs and similar accounts, not inherited accounts. Results are estimates for educational purposes only.
A few ways we can help with your required minimum distribution
RMDs can't go back into an IRA. If you won't spend it right away, a Money Market Account or Share Term Certificate keeps it federally insured and earning dividends.
Move an IRA from another institution into a Traditional IRA Savings account or a fixed-rate IRA Term Share. We'll help with the transfer paperwork.
Prefer a conversation? Our team can walk you through your IRA accounts, distributions, and next steps, by phone or in a branch.
A required minimum distribution (RMD) is the minimum amount the IRS requires you to withdraw each year from traditional IRAs and most employer retirement plans, such as 401(k) and 403(b) plans, once you reach a certain age. Your RMD is generally your account balance on December 31 of the prior year divided by a life expectancy factor from IRS tables.
Your first RMD is due by April 1 of the year after you reach RMD age. Every RMD after that is due by December 31. Delaying your first RMD to April 1 means taking two in the same year, which can increase your taxable income.
Traditional IRAs, SEP and SIMPLE IRAs, and most employer plans have RMDs. Roth IRAs do not require withdrawals during the original owner's lifetime. Inherited accounts follow separate rules.
Under the SECURE 2.0 Act, RMDs start at age 73 if you were born from 1951 through 1959, and at age 75 if you were born in 1960 or later. If you were born before 1951, your RMDs have already begun under earlier rules.
Your first RMD is due by April 1 of the year after you reach RMD age. Every RMD after that is due by December 31. If you wait until April 1 for your first one, you will take two RMDs that year, which may raise your taxable income.
The IRS may charge an excise tax of 25% of the amount you should have withdrawn. The tax may be reduced to 10% if you correct the shortfall promptly. Talk with a tax advisor if you have missed an RMD.
No. The original owner of a Roth IRA does not have to take RMDs. Beneficiaries who inherit a Roth IRA generally do have distribution requirements.
No. RMDs cannot be rolled over into another IRA or retirement account. Many people deposit the portion they do not need to spend right away into a savings account, money market account, or share certificate.
You calculate the RMD for each traditional IRA separately, but you can take the combined total from any one IRA or a combination of them. Employer plans such as 401(k)s generally follow different rules, so each plan's RMD is usually taken from that plan.
RMDs from traditional IRAs are generally taxed as ordinary income in the year you take them. You can usually choose to have taxes withheld from your distribution. A tax advisor can help you plan for the impact.
If you are 70½ or older, you may be able to make a qualified charitable distribution (QCD), sending money directly from your IRA to an eligible charity, up to an annual limit set by the IRS. A QCD can count toward your RMD and is generally not included in your taxable income. Check with a tax advisor before making one.
Yes. IRA savings and IRA share certificates at Pioneer Valley Federal Credit Union are federally insured by the National Credit Union Administration (NCUA) up to $250,000, separately from your other accounts.
Not tax advice: This calculator and information are provided for educational purposes only and are not tax, legal, or investment advice. Results are estimates based on the information you enter. Consult a qualified tax advisor about your specific situation.
Accounts: Membership eligibility required. Dividend rates, terms, and early withdrawal penalties apply to certificates; see current rates and the Truth in Savings disclosure for details.
Federally insured by NCUA
*APR = Annual Percentage Rate; APY = Annual Percentage Yield; Terms and conditions apply. Click here for Loan Rates & Disclosure. Click here for Home Loan Rates & Disclosure. Click here for Savings Rates & Disclosure.