How much are you required to withdraw from your retirement account?
The IRS requires you to withdraw a minimum amount of money each year from your retirement account once you hit a specific age as follows:
- Age 73 for an individual who attains age 72 after December 31, 2022, and age 73 before January 1, 2033
- Age 75 for an individual who attains age 74 after December 31, 2032
This amount, also known as your Required Minimum Distribution (RMD), is determined by your age and account balance — so it changes each year.
Do you have multiple IRAs? Even though you must calculate each account individually, you can take your total RMD amount from one account or many.
Did you inherit a retirement account? If you are a beneficiary of a retirement account, use our Inherited IRA RMD Calculator to estimate your minimum withdrawal.