IRA, 401k, 403b Minimum Distribution

Minimum IRA, 401k or 403b Distribution Calculation
Do you have an IRA? 401(k)? 403(b)? If so, you will eventually have to decide how much to withdraw at retirement. The IRS may require you to withdraw a minimum amount each year¹. The minimum amount you must withdraw can easily be calculated. You need to know the account balance, your age, and your beneficiaries age. (normally your spouse) Supply the required information and press the Calculate button to find out what the IRS will require you to withdraw.

Your age in year withdrawal will occur:
Beneficiaries age in year withdrawal will occur (if no beneficiary set to 0):
Account Balance at end of year preceding withdrawal:

^1.The IRS requires a minimum distribution because you have not paid taxes on the funds deposited in your account. Instead you must pay taxes on the amounts you withdraw from the account. That's why it's called a "tax deferred account". If you die, there are all kinds of tax dodges which can be used to avoid paying taxes on the account. So the IRS uses actuarial tables to decide how long you are likely to live and requires you to withdraw enough money each year so it is likely that you will withdraw all the funds before you die. Before you get mad at the IRS, remember that this requirement was imposed by Congress in the law creating tax deferred accounts.