Retirement PlanningRMDsNew RMD Tables For Age 73 That Retirees Need to Know For...

New RMD Tables For Age 73 That Retirees Need to Know For 2023 & 2024

Retirement Accounts: Are There New Required Minimum Distribution Life Expectancy Tables?

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Are you approaching or have already reached the age of 72 and feeling overwhelmed by the complexities of Required Minimum Distributions (RMDs)? Navigating the new RMD tables for 2023 and 2024 can be a daunting task, especially with the recent changes brought about by the SECURE 2.0 Act. But why is understanding these changes crucial for your financial well-being?


This article is your essential guide to mastering the new RMD rules. Whether you’re a retiree keen on optimizing your retirement savings or a financial advisor assisting clients, you’ll find actionable insights and strategies here. We’ll delve into the intricacies of IRA withdrawal rules, the implications for your tax-deferred accounts, and how these changes impact your overall retirement planning.

But what exactly are these changes? The SECURE 2.0 Act has notably increased the RMD age, affecting how retirees must comply with these new rules.

If you have a Traditional IRA, you’re subject to these RMD requirements, while Roth IRAs will see changes in exemption from RMDs starting in 2024.

It’s not just about compliance; it’s about strategically planning to ensure your financial planning for retirement aligns with these updates.

In this article, you’ll discover:

  • How the SECURE 2.0 Act reshapes the landscape of RMDs.
  • IRS RMD Charts and Table for 2023 and 2024, New RMD Tables for age 73, and an RMD calculator for your IRA or 401k
  • The consequences of missing RMDs, including potential tax penalties.
  • Strategies for managing your retirement accounts to foster tax-deferred growth.
  • The importance of estate planning considering RMD impacts.
  • The critical role of financial advisors in navigating RMD calculations.

By the end of this read, you’ll have a clearer understanding of how these changes affect your retirement income and financial security. Our goal is to provide you with the knowledge to make informed decisions, ensuring you’re well-prepared for this new phase of retirement planning.

Key Points: New IRS RMD Table For 2023 & 2024

  1. Understanding the SECURE 2.0 Act’s Impact: The SECURE 2.0 Act has significantly altered the RMD landscape, increasing the RMD age and affecting compliance for Traditional IRA holders. Roth IRAs will also see changes in RMD exemptions starting in 2024. It’s not just about adhering to the rules; it’s about strategically planning your retirement finances in alignment with these updates.
  2. Navigating the New IRS RMD Charts and Tables: For those aged 73 and above, the new tables provide a revised framework for calculating RMDs. Utilizing the 2023 and 2024 IRS RMD Charts and Tables effectively is key to ensuring compliance and optimizing retirement account withdrawals.
  3. Consequences of Missing RMDs: Understanding the potential tax penalties for missing RMDs is crucial. This knowledge helps in avoiding costly mistakes and ensures timely and accurate withdrawals from your retirement accounts.
  4. Strategies for Tax-Deferred Growth: Managing your retirement accounts with these new rules in mind can foster tax-deferred growth. This involves understanding the nuances of estate planning and the impact of RMDs on your overall financial legacy.
  5. The Role of Financial Advisors: For financial advisors, staying abreast of these changes is vital. Your role in guiding clients through RMD calculations and strategies is more critical than ever in this evolving landscape.
Plan TypeRMD FactorRMD Start DateAggregation Allowed
IRAUniform Lifetime or Joint Life and Last Survivor Expectancy TableAge 73*Yes — with other IRAs only
Roth IRANo RMD requiredN/AN/A
403(b)Uniform Lifetime or Joint Life and Last Survivor Expectancy TableAge 73* or year of retirement, if later**Yes — with other 403(b) accounts
401(k) or other qualified plansUniform Lifetime or Joint Life and Last Survivor Expectancy TableAge 73* or year of retirement, if later**No
Roth 401(k), 457b, 403(b)Uniform Lifetime or Joint Life and Last Survivor Expectancy TableAge 73* or year of retirement, if laterNo — 401(k), 457b; Yes — 403(b)
Summary Overview of Required Minimum Distributions


  • *Age 73: This reflects the updated age for RMDs as per recent changes in legislation. It’s important to stay updated with IRS guidelines as these ages can change.
  • **Year of Retirement: The RMD start date can be deferred until retirement if the individual is still working and does not own more than 5% of the business sponsoring the retirement plan.

This table is a simplified guide and should be used as a starting point for more detailed planning. For precise calculations and up-to-date regulations, it’s advisable to consult the latest IRS guidelines or a financial advisor. So be sure to check the IRS website for the most current version.  The tables can be found in IRS Publication 590-B, also known as PUB 590-B.

New Required Minimum RMD Tables
New Required Minimum RMD Tables


Total Time: 3 minutes

Step 1 – Life Span Expectation

New RMD Tables

Locate Your Age on the IRS Uniform Lifetime Table: Find your age on the IRS Uniform Lifetime Table, which provides the life expectancy factor corresponding to your age

Find the Life Expectancy Factor: Once you’ve located your age on the table, find the “life expectancy factor” that corresponds to your age

Step 2 – Calculate your RMD with the IRS RMD Charts

RMD on non qualified annuities

You can now use the applicable distribution period tables (IRS RMD Charts) below to calculate your RMD. The IRS RMD Charts are divided into two parts.
– The first part is for people who are married and the second part is for people who are not married. If you are married, you will use the table for married people. If you are not married, you will use the table for unmarried people.
– Once you know which table to use, you will need to find your age in the left-hand column.

IRS Publication 590

Step 3 – Determine IRA Value

Are RMD considered earned income

Now it is time to figure out the accounts year-end value of your IRA, for RMD purposes. The value of your IRA is the account value in your retirement account on December 31 of the previous year. You can find this either on your end of year statement, or by viewing your account online.
For example – If I am trying to calculate my 2023 RMD, I would need to look at my IRA balance from December 31, 2022

Step 4 – Calculate Your RMD

RMD Calculator How to Calculate IRA RMD

Once you have found completed step 1, found your table (step 2) and the value of your IRA (step 3), you can determine your RMD.
The Math: Divide your December 31 retirement account balance by your table factor to get your final RMD withdrawal amount.

Use the RMD formula to calculate your RMD for each account. For example, if your account balance as of December 31 last year was $100,000 and your life expectancy factor is 23.7, then your RMD would be $100,000 / 23.7 = $4,219.41

The RMD is the amount of retirement funds that you must withdraw from your IRA each year.
* If you have multiple pre-tax retirement accounts, you will calculate separate RMD’s for each retirement account. 

Step 5 – Take the Full RMD Amount by the Deadline

The first time you take an RMD, you’ll have until April 1 of the year following the year you turn 72 (or age 73 if you turn 72 in 2023 or later) to do so. After that, you generally have until December 31 of the current year to take that year’s RMD


  • Pen and paper


  • Each of the IRS RMD Charts
  • RMD Calculator

Materials: To calculate your Required Minimum Distributions (RMDs) using the 2023 & 2024 RMD tables, follow these steps:

RMD Calculator And Table

Now that you have a grasp of the basic process for calculating your Required Minimum Distributions (RMDs), I’m about to introduce you to a powerful tool that can simplify this task and save you time and effort – the RMD calculator.

Simplify Your RMD Calculations with an RMD Calculator

Calculating your RMDs can be a bit cumbersome, especially if you have multiple retirement accounts. That’s where an RMD calculator comes to the rescue. This handy tool takes the guesswork out of the equation and provides you with a quick and accurate estimate of your RMD for the year.

How to Use the RMD Calculator

Using an RMD calculator is as easy as pie. Here’s a step-by-step guide:

  1. Enter Your Information: Start by entering essential information such as your age, your spouses age, the account balance as of December 31 of the previous year, and the type of retirement account (e.g., traditional IRA, 401(k)).
  2. Let It Estimate Your RMD: Once you’ve inputted the necessary details, the calculator will work its magic and estimate your RMD for the year. This estimate is based on the IRS rules and regulations.
  3. Compare to IRS RMD Tables: To ensure accuracy, it’s always a good practice to compare the calculator’s estimate to the IRS RMD tables. This double-check helps confirm that your RMD aligns with the official guidelines.
  4. Consult with Professionals: While RMD calculators are excellent tools, it’s advisable to consult with your financial institutions and tax professionals to validate your RMD amount. They can provide personalized guidance and address any specific concerns you may have.
RMD Calculator – Required Minimum Distributions Calculator

IRA Required minimum distribution (RMD) Formula =

Here is the formula for calculating annual required minimum distributions (RMDs):

RMD = Account Balance / Distribution Period

  • Account Balance = The total value of your retirement account(s) as of December 31st of the prior year. This includes 401(k)s, 403(b)s, 457(b)s, Traditional IRAs, SEP IRAs, and SIMPLE IRAs.
  • Distribution Period = Determined by the IRS Uniform Lifetime Table and your age on your birthday in the year for which you are taking the RMD. The table provides a factor based on your age – for example, age 73 = 25.6 years.

So for example, if you turn 73 in 2024, the distribution period from the table would be 25.6 years.

  • If your retirement account balance as of December 31st, 2023 is $500,000, your RMD would be:
  • RMD = $500,000 / 25.6 RMD = $19,531.25
  • So in 2024, you would need to withdraw at least $19,531.25 from your retirement accounts to satisfy the required minimum distribution rules.

The distribution period factors decrease each year you age, resulting in an increased RMD amount. The Uniform Lifetime Table factors can be found in IRS Publication 590-B.

RMD Formula

12/31 Retirement account balance / statistical longevity

Here’s an example of the RMD calculation for someone who will have to make the calculation for 12/31/2023 in 2024:

  • Account Balance at End of Last Year: $200,000
  • Age: 74
  • Distribution Period: 25.5

Therefore, the required minimum distribution for 2023 would be $7,843.By using the individual’s age and the corresponding distribution period from the IRS table, the RMD can be accurately calculated.

401k ira
RMD Tables

Chart – Impact Of New RMD New Uniform Lifetime Table 2023

In the dynamic landscape of retirement planning, the introduction of the new Required Minimum Distribution (RMD) Uniform Lifetime Table in 2023 marks a pivotal shift. This change, significant for retirees and financial planners alike, redefines how individuals calculate their RMDs from tax-deferred retirement accounts.

The age for required minimum distributions (RMDs) from traditional IRAs and employer-sponsored retirement accounts was increased to 73 for those who turn 72 in 2023. The new Uniform Lifetime Table for 2023 impacts the calculation of RMDs, providing the distribution period (in years) for retirees based on their age.

Here’s a chart illustrating the impact of the new RMD Uniform Lifetime Table for 2023.Impact of New RMD Uniform Lifetime Table 2023:

AgePrevious FactorNew Factor (2023) AgePrevious FactorNew Factor (2023)
7225.627.4 8714.816.6
7324.726.5 8814.116.0
7423.825.6 8913.415.4
7522.924.7 9012.814.8
7622.023.8 9112.214.3
7721.223.0 9211.613.7
7820.322.1 9311.013.2
7919.521.2 9410.512.7
8018.720.3 9510.012.2
8117.919.5 969.611.7
8217.118.7 979.111.2
8316.317.9 988.610.7
8415.517.1 998.110.2
8514.816.3 1007.69.7

Note: This table is a simplified representation. The actual RMD amounts will vary based on individual account balances and other factors.

Source: IRS Uniform Lifetime Table

This table illustrates how the distribution period decreases with age, impacting the calculation of RMDs. As the age increases, the percentage of assets that must be withdrawn also increases, reflecting the declining life expectancy. The new RMD tables should be used to accurately calculate the required minimum distributions for 2023 and 2024

Chart – IRA Required Minimum Distribution New IRS Joint Life Expectancy Table 2023

Joint Life Expectancy Table RMD Tables

Example in Action

Let’s put this into perspective with an example:

Imagine you’re 73 years old, and your spouse is 46. According to the IRS Joint Life Expectancy Table, your Life Expectancy Factor for the year is 40.4. If your retirement account balance as of December 31 last year was $100,000.00, here’s how you calculate your RMD:

$100,000.00 (Account Balance) ÷ 40.4 (Life Expectancy Factor) = $2,463.05 (Your RMD)

In this scenario, your RMD for the year would be $2,463.05.

  • Accuracy: Ensure to use the exact life expectancy factor from the current IRS Joint Life Expectancy Table.
  • Annual Review: RMD calculations should be done annually, as factors and account balances change.
  • Consult a Professional:

For other ages, see the source table at Fidelity

precise calculations and up-to-date regulations, consulting the latest IRS guidelines or a financial advisor is advisable.


How Long Will My Retirement Funds Last?

Use this handy calculator to estimate how long your retirement savings may last you.

FAQ frequently asked questions


  • Just click on the question or the + plus sign to see the answers

What is a Required Minimum Distribution or RMD?  

It is the minimum amount you must take out of your retirement account each year, such as 401k, Traditional IRA, Inherited IRA.

Can I take out more than the minimum required?  

You can take out more money than the minimum amount.  RMD stands for required minimum distribution. It doesn’t stop people from taking more than the required amount. According to the IRS only about 20% of people take just the RMD amount.  

What are the IRS Required Minimum Distribution Tables called?

You will find the IRS RMD Tables referred to by many names, such as:
– RMD Life expectancy table 2023, IRS life expectancy tables 2023, IRS uniform lifetime table 2023, RMD Table 2023
– RMD New Uniform Lifetime Table 2023, RMD New IRS Joint Life Expectancy Table 2023, or New Single Life Table 2023

Did RMD tables change in 2022?

The answer is yes, the RMD tables changed dramatically in 2022.   There were new IRS RMD Tables for age 72 in 2022.  The new RMD Factors in 2022 were lowered, which means that you will have to take less money out of your retirement account each year.  For more information – scroll down in the article.
What and why are there changes? The uniform life expectancy method takes the relevant statistical life span to create a ‘table life expectancy factor’. The updated current life expectancies, or average longevity is now greater – meaning you can stretch out the number of years you can expect to take an IRA required minimum distribution.

Where can I find the RMD percentage chart, or RMD calculation tables?

You can scroll further down this article to see the charts and learn about them, or visit IRS Publication 590 (IRS Pub 590) to learn more.  Check the IRS website here for the Life Expectancy Table

Is Age 73 the new 70 1/2 Distribution Period Age? 

– Yes, age 73 is the new age 70 ½!  The RMD required beginning date used to be based on your age 70 1 2, but now it is based on age 73.  
– Not 72 ½, but 73.  The April 1 following your 73rd birthday is the deadline to take your first RMD.
– Over the next ten years, the RMDs will be phased from age 70 1 2 to age 72 to eventually age 75.  So IRA distributions will eventually start at age 75 instead of age 70 ½ or age 73.

Where can I find the IRS RMD Form?

You can find the RMD IRS Required Minimum Distribution Worksheets at the IRS website here

Will I have to pay income taxes on my required minimum distribution?  

– People who withdraw from a retirement account will have to pay taxes on all of the money they withdraw on their actual individual tax rates, not marginal rate of tax..
– An exemption is made for any part that may have already been taxable income. 
– or that can be received tax-free (such as qualified distributions from designated Roth accounts).
– The RMD amount could affect the way your social security income benefits are taxed – speak with a tax advisor and your personal financial advisor about your tax rates and implications.

Do Roth IRA’s have a required minimum distributions?

No.  Roth IRA’s do not have a required minimum distribution.  No, money does not need to be withdrawn from a Roth IRA until after the death of the retirement account owner. 

When do you have to withdraw from 401k?  Will my 401k forced cash out for the required minimum distribution?

– See above for required minimum distribution rules
– For people who work past age 72 and don’t own more than 5% of the company, they can wait until they retire before taking money from their 401k.  But you’d still have to take RMDs from old 401ks you own. 
– There is a way around that. In some cases, you can move money from your old 401k to your new one which could mean that you won’t have to take an RMD from a 401k until you retire. 
– You would still have to take RMDs from any traditional IRAs.

Calculating Required Minimum Distribution RMD Charts


Next Steps For You Using the RMD Tables and Charts To Calculate Your RMD

Listen up folks, I wanna shoot straight about these new RMD rules that came from the SECURE Act 2.0. They’re raising the age you must start withdrawals to 73—that buys more time for your nest egg to grow if you don’t need the cash yet.

But keep in mind that Traditional IRAs still have to follow the RMD requirements, even with the older age. Roth IRAs get a pass on RMDs for now though.

Now I know all these rules can feel overwhelming, with the IRS publishing updated tables and such. That’s exactly why partnering with a financial pro can make a big difference—they can guide you on the calculations and strategies to optimize based on the changes. And hey, don’t sleep on estate planning either if you want to minimize the tax impacts down the road.

What I’m getting at here is that every retiree’s situation is different. Your investment mix, tax bracket, income sources—it all affects how you approach distributions. But the key is being proactive with a plan, not scrambling to avoid penalties from missing deadlines. Even small tweaks can lead to big returns over time.

So tell me…how are you feeling about these RMD changes? Any hurdles or opportunities on your radar? Open up in the comments so we can chat! And if you still have questions, shoot me a note. I started this blog to lend my years of experience to folks just like you, not to rattle off financial jargon from an ivory tower!

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Note: The content provided in this article is for informational purposes only and should not be considered as financial or legal advice. Consult with a professional advisor or accountant for personalized guidance.

Michael Ryan
Michael Ryan
Who Am I? I'm Michael Ryan, a retired financial planner turned personal financial coach. And author and found of blog. My advice is backed by decades of hands-on experience in finance and recognition in esteemed publications like US News & World Report, Business Insider, and Yahoo Finance. 'here'. Find answers to your financial questions, from budgeting to investing and retirement planning, on my blog My mission is to democratize financial literacy for all.