Required Beginning Date Calculator

RBD Calculation:

RBD = April 1 Following Year of Turning 70½

RBD (date):

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1. What Is Required Beginning Date?

The Required Beginning Date (RBD) is the date by which you must begin taking required minimum distributions (RMDs) from your retirement accounts. For most individuals, this is April 1 of the year following the year you turn 70½.

2. How Does The Calculator Work?

The calculator uses the standard RBD calculation:

RBD = April 1 Following Year of Turning 70½

Where:

Year of 70½ — The calendar year in which you reach age 70½
RBD — Required Beginning Date, always April 1 of the following year

Explanation: This calculation determines the deadline for starting your required minimum distributions from qualified retirement plans.

3. Importance Of RBD Calculation

Details: Calculating your RBD is crucial for retirement planning to avoid significant IRS penalties. Failure to take RMDs by the required date can result in a 50% excise tax on the amount not distributed.

4. Using The Calculator

Tips: Enter the year in which you turn 70½. The calculator will determine your Required Beginning Date for taking minimum distributions from your retirement accounts.

5. Frequently Asked Questions (FAQ)

Q1: What happens if I miss my RBD?
A: Missing your RBD can result in a 50% IRS penalty on the amount that should have been distributed. It's important to calculate and track this date carefully.

Q2: Does the RBD rule apply to all retirement accounts?
A: The RBD rule applies to most qualified retirement plans including traditional IRAs, 401(k)s, 403(b)s, and other tax-deferred retirement accounts.

Q3: Can I take distributions before my RBD?
A: Yes, you can take distributions from retirement accounts before your RBD, but you are required to start taking minimum distributions by your RBD.

Q4: What if I'm still working after 70½?
A: Special rules may apply if you're still working. For employer plans, you may be able to delay RMDs until you retire, but this doesn't apply to IRAs.

Q5: Has the RBD age changed recently?
A: The SECURE Act changed the RBD age from 70½ to 72 for those who turned 70½ after December 31, 2019. This calculator uses the traditional 70½ rule.