Uniform Lifetime Table

Irs uniform lifetime table.

Uniform lifetime table. This is your required minimum distribution for this year from this ira. Line 1 divided by number entered on line 2. That s because it s the table that is generally used to determine the life expectancy factor for calculating rmds during an account owner s lifetime. This table is used only for lifetime required distributions.

The uniform lifetime table is the life expectancy table that is most familiar to ira and other retirement account owners. Most ira owners will use this table but there is one exception. 2020 uniform lifetime table. The table shown below is the uniform lifetime table the most commonly used of three life expectancy charts that help retirement account holders figure mandatory distributions.

Brian is a retired 401 k participant who turned 70 1 2 on march 31. If the spouse is the sole beneficiary for the entire year and is more than 10 years younger than the ira owner do not use this uniform lifetime table. His daughter susan is the beneficiary on his account. In that case you would not use this table.

Distribution period from the table below for your age on your birthday this year. In this case use the actual ages of both spouses. The uniform lifetime table for lifetime rmd calculations. Internal revenue service publication 590 b table iii uniform lifetime.

Download a pdf showing the current vs new uniform lifetime table rmd as a percentage of account balance and check out irs proposes new rmd life expectancy tables to begin in 2021 for more about the irs proposal to update the life expectancy and distribution period tables that both owners of retirement accounts e g ira 401 k 403 b and the thrift savings plan tsp as. Repeat steps 1 through 3 for each of your iras. Adjust if you have assets that were in the process of being recharacterized transferred or rolled over on december 31. Life expectancy factor uniform lifetime table continued irs uniform lifetime table page 2 of 2 source.

Required minimum distributions during your lifetime are based on a distribution period that is generally determined using table iii uniform lifetime in appendix b. This table is the life expectancy table to be used by all ira owners to calculate lifetime distributions unless your beneficiary is your spouse who is more than 10 years younger than you. Specifically the table is used by all retirement account owners other than those who have named a much 11 years. The uniform lifetime table is the life expectancy table that is most familiar to ira and other retirement account owners.

Use this table for calculating lifetime rmds from iras and retirement plan accounts.