That is, your 2021 RMD would be based on the old life expectancy tables and the account's balance on Dec. 31, 2020. Your 2022 RMD would be based on the new tables and the balance at the end of 2021.

To calculate your RMD, simply divide the account balance by the life expectancy factor. Therefore, $1 million divided by 24.6 ...

The new tables “give you about one to two years more in life expectancy,” Slott said. CNBC used this example: Under the new uniform life table, a 75-year-old would use 24.6 as their factor.

2. New Rules for 2024 RMDs have changed significantly in 2024. First, the IRS has released a new life expectancy table. You'll need the numbers on this table to determine exactly how much you're ...