Starting with the April 1 of the year following the year you reach 70 ½, you are obligated to distribute a Required Minimum Distribution (RMD) amount from your 401K and regular IRA annually. This amount is calculated as the beginning balance of your combined accounts as of the start of the tax year divided by your life expectancy.
To determine your life expectancy, the IRS created the following Uniform Life Expectancy Table. Unless your spouse is your sole beneficiary and is more than 10 years younger than you, this is the table to use. (If your spouse is ten or more years younger than you, use the joint and survivor tables instead.)
- Your age: Your life expectancy (in years)
- 70: 27.4
- 71: 26.5
- 72: 25.6
- 73: 24.7
- 74: 23.8
- 75: 22.9
- 76: 22.0
- 77: 21.2
- 78: 20.3
- 79: 19.5
- 80: 18.7
- 81: 17.9
- 82: 17.1
- 83: 16.3
- 84: 15.5
- 85: 14.8
- 86: 14.1
- 87: 13.4
- 88: 12.7
- 89: 12.0
- 90: 11.4
- 91: 10.8
- 92: 10.2
- 93: 9.6
- 94: 9.1
- 95: 8.6
