Required minimum distributions (RMDs) must be taken each year beginning with the year you turn age 70 1/2. The RMD for each year is calculated by dividing the IRA account balance as of December 31 of the prior year by the applicable distribution period or life expectancy. This rule does not apply to your Roth IRAs. You can determine your distribution period or life expectancy by using the Tables in Appendix B of Publication 590-B Distributions from Individual Retirement Arrangements (IRAs).
- Table I - for beneficiaries
- Table II - for owners whose spouse is 10 years younger and the IRA's sole beneficiary
- Table III - for all other owners (most IRA owners will use this table)
See the discussion of required minimum distributions and worksheets to calculate the required amount.