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The required minimum distribution for any year is the account balance as of the end of the immediately preceding calendar year divided by a distribution period from the IRS’s “Uniform Lifetime Table.”
IRS UNIFORM LIFETIME TABLE. To calculate RMDs, use the following formula for each account: Account Balance. as of December 31 last year* Life Expectancy Factor. ÷ see the Uniform Lifetime Your RMD. Table** below to. = find the factor using the age you turn this year. Example. $100,000.00. Account Balance. as of December 31 last year* 23.7.
2022 Uniform Lifetime Table - Ed Slott and Company, LLC. This table is the life expectancy table to be used by all IRA owners to calculate lifetime distributions unless your beneficiary is your spouse who is more than 10 years younger than you.
The RMD Table for 2024 covers what you should know about 2024 start dates for different kinds of accounts. What's new with required minimum distributions? We cover the basics here.
If you continue to be treated as a beneficiary of the owner and the owner died before the owner's required beginning date, and you were not more than 10 years younger than your spouse, you may use the life expectancy you find in Table III (Uniform Lifetime Table) to determine your RMD.
Use this table for calculating lifetime RMDs from IRAs and retirement plan accounts. Example: Brian is a retired 401(k) participant who turned 76 on March 31. His daughter, Susan, is the beneficiary on his account.
This notice updates the life expectancy and mortality tables used to determine substantially equal periodic payments under the methods set forth in Rev. Rul. 2002-62 and provides a 5 percent floor on the maximum interest rates that may be used to calculate annuity payments under the fixed amortization and annuitization methods.