You are the plan participant and plan administrator for your Solo 401k, so you are responsible for calculating your Required Minimum Distribution (RMD) for your Solo 401k. Don’t worry, this is easier than it sounds!

There are two tables provided by the IRS you can use to calculate your RMD:

  1. Uniform Lifetime Table: Use this table if you are not married. Click this link to open the IRS table

  2. Joint Life Table: Use this table if your spouse is 10 years younger than you (or more). Click on this link to open the IRS table

A general recommendation on calculating your RMD is to take your beginning balance for the previous calendar year and divide it by the applicable distribution period (see the IRS tables above to get the figure for your year/age).

For an in-depth read from the IRS on distributions, click here to access Publication 590-B

Did this answer your question?