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An RMD, or required minimum distribution, is the minimum amount of money the IRS mandates you withdraw each year from most tax-deferred retirement accounts, generally once you turn age 73.*
Accounts that require RMDs include:
Please note different RMD rules apply to inherited IRAs and are not covered here. For questions related to inherited IRA RMDs, please speak with your tax or legal professional.
If you don’t take your RMD, or take out too little, you may be faced with an IRS penalty tax.
*The SECURE Act of 2019 changed the RMD age requirement from 70½ to 72 and is applicable to those who turned 70½ on or after January 1, 2020. The Secure 2.0 Act of 2022 changed the RMD age to 73 in 2023 only for individuals who turn 72 on or after January 1, 2023. The new law also provides that the RMD age will change again to 75 in 2033.
What are the RMD Deadlines?
*The SECURE Act of 2019 changed the RMD age requirement from 70½ to 72 and is applicable to those who turned 70½ on or after January 1, 2020. The Secure 2.0 Act of 2022 changed the RMD age to 73 in 2023 only for individuals who turn 72 on or after January 1, 2023. The new law also provides that the RMD age will change again to 75 in 2033.
Learn more about RMD deadlines and penalties.
How do I calculate my RMD?
The RMD for a year is determined by dividing the previous year-end's fair market value (on December 31) by the applicable distribution period (from the appropriate IRS life expectancy table). The year-end value may need to be adjusted for certain events.
Your RMD changes each year, based on your balance and age. If you don’t take the correct RMD amount, IRS penalties may apply. If you're a T. Rowe Price client with an RMD eligible account, log in to manage your RMD.
How do I take my RMD at T. Rowe Price?
By logging in you can set up recurring distributions from eligible accounts using the Auto-RMD tool, take a one-time distribution from eligible accounts, or update existing distribution programs.
If you don’t need your RMD for living expenses, here are three ways you could potentially put your RMD to work for the things that matter most to you—reinvest your RMD into a general investing account, save for a loved one's education by investing in a 529 college savings plan, or support a charity by donating to one or more charities.
Can I make a Qualified Charitable Distribution to fulfill my RMD?
Generally, you can distribute up to $108,000 for 2025 (indexed for inflation) directly from a Traditional IRA to qualified charities each year. QCDs can count toward your RMD and won't be included in your taxable income. Make a QCD online or download and submit the QCD Form within the required timeline.
Download the Qualified Charitable Distribution Form (PDF)
To help you prepare your taxes, we’ve pulled together common questions and answers regarding mailing schedules, cost basis, capital gains, and dividends.
How are dividends and capitals gains calculated? Why did my balance suddenly change?
Mutual funds must distribute any dividends and net realized capital gains earned on their holdings over the prior 12 months, and these distributions are taxable income even if the money is reinvested in shares in the fund.
Depending on how the funds in your portfolio performed over the last 12 months and whether distributions were taken, you may be noticing a change in your balance based on your dividends and net realized capital gains.
For more information on capital gains, read “End-of-Year Tax Considerations for Capital Gains: Understanding Mutual Fund Distributions” from CFP Roger Young.
View T. Rowe Price Mutual Fund Dividend Distributions for more information on distributions to shareholders and schedules.
Where can I see a summary of my cost basis and capital gains?
Clients can log in and see a tax summary for their realized gains/losses, capital gain distribution, and income dividends for 2025 and 2024.
Visit the Tax Planning Center for tax forms, resources, and planning information including Mutual Fund Dividend Distributions.
When will I receive my tax documents in the mail?
View the Tax Information Mailing Schedule for when T. Rowe Price tax statements, forms, and packages necessary for your tax planning will be sent.
Where can I find dividend and capital gains distribution information for the this or previous years?
View T. Rowe Price Mutual Fund Dividend Distributions for more information on distributions to shareholders and schedules. Owners of ETFs can find relevant distribution and scheduling information on T. Rowe Price Exchange Traded Funds (ETF) Dividend Distributions.
2024 Mutual Fund Year-End Distributions
2024 ETF Year-End Distributions
Where can I view or download tax forms?
Clients can access up to seven years of tax forms issued by T. Rowe Price in the Statements section of their accounts.
Visit our Tax Forms section to view and download IRS forms, listed by form number.
The T. Rowe Price Summit Program is our complimentary tiered benefits program designed to equip you with exclusive benefits to help you invest more confidently. As you save more for retirement and other goals, you gain entry to more benefits that reward you for investing directly with T. Rowe Price.
Assignment to a Summit tier is based on the amount of assets in qualifying accounts and other accounts that you or members of your Summit household have with T. Rowe Price.
Please visit the Summit Program page and Summit Program FAQ page for more information.
*The SECURE Act of 2019 changed the RMD age requirement from 70½ to 72 and is applicable to those who turned 70½ on or after January 1, 2020. The SECURE 2.0 Act of 2022 changed the RMD age to 73 in 2023 only for individuals who turn 72 on or after January 1, 2023. The new law also provides that the RMD age will change again to 75 in 2033.
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