Based on the information provided, this report shows the required minimum distribution (RMD) amount, if any, for withdrawal this calendar year.
This Inherited IRA Distribution Calculator is intended to serve as an informational tool only, and should not be construed as legal, investment, or tax advice.
You should discuss your situation with your investment planner, tax advisor,
or an estate planning professional to identify specific issues not addressed by the Calculator before acting on the information you receive from this tool.
Before deciding how to proceed with an inherited IRA, an investor should consider various factors including, but not limited to,
age, account type, and relationship of the account holder to the beneficiary.
If the IRA owner died after his/her Required Beginning Date (RBD), any portion of the IRA owner’s RMD for the year of the death not withdrawn prior to the IRA owner’s death must be paid to the beneficiary.
This Calculator should not be used to determine the amount due in the year of the death of the original account owner.
It is only used to determine subsequent RMDs for the beneficiary.
Beneficiaries are responsible for withdrawing the correct amount of RMDs from the inherited IRA within the appropriate time period
in order to avoid IRS penalties.
The time of the first required distribution will depend on the beneficiary type and in some instances,
whether the original account owner died before, on, or after the required beginning date (RBD).
Consult your investment planner, tax advisor, or an estate planning professional regarding the time of your first required distribution.
This calculator assumes the assets have been transferred from the original retirement account to an inherited IRA in the name of the beneficiary.
If the account was inherited from someone who was already a beneficiary, different rules apply and this tool should not be utilized to calculate the RMD.
This calculator uses the latest IRS life expectancy tables to calculate any applicable annual RMDs.
You are responsible for the calculation of your Inherited IRA RMD and the accuracy of your tax return. Withdrawals of taxable amounts may be
subject to ordinary income tax. You should periodically review your overall tax plan with your tax advisor.
If the original account owner passed away before April 1 of the year after reaching RMD age, this tool will treat the original
owner as not having reached his or her RBD.
RMD age is 73 for individuals born on or after January 1, 1951, age 72 for individuals born between July 1, 1949, and December 31, 1950, and 70½ for individuals born before July 1. 1949.
If the account owner passed away in 2020 or beyond and had reached RBD, this tool will calculate the RMD based on the life expectancy of the
individual (account owner or Eligible Designated Beneficiary) with the longer life expectancy. Given recent changes included in the SECURE
Act you should review these results with your Tax Advisor before taking any action on your accounts.
- The Calculator does not consider the effect of taxes on the RMD withdrawn and the amount owed in taxes on the withdrawal is not calculated.
The Inherited IRA RMD Calculator’s results may vary with each use and may change over time due to updates to the Calculator or because of
changes in personal circumstances or market conditions. Consider returning to the Calculator at least annually to calculate the RMD for the