Required Minimum Distribution (RMD)

The IRS requires that you withdraw at least a minimum amount - known as a Required Minimum Distribution - from some types of retirement accounts annually, starting the year you turn age 70-1/2. Determining how much you are required to withdraw is an important issue in retirement planning. Use this calculator to determine your Required Minimum Distributions.

Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.

Call Hanover Community Bank at (516) 248-4868 or (646) 569-3600 for more information on our banking products and services. Branch location, hours of operation and other related information can be found on our Contact page.

All Hanover Community Bank accounts are insured by the FDIC for at least $250,000.

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