January RMD Checklist: Plan the Year Ahead
January is the optimal time to plan the full year’s RMD strategy: gather prior-year balances, calculate this year’s RMD, plan QCDs, evaluate Roth conversion room, and set up automation. Doing this in January avoids December deadline pressure entirely.
January RMD planning checklist
| January Checklist Item | Action | Importance |
|---|---|---|
| Gather Dec 31 account balances | Collect all traditional IRA/401k statements | Required for RMD calculation |
| Calculate RMD for each account | Balance ÷ IRS factor for your age | Required — verify accuracy |
| Plan QCD amount and charities | Identify charitable giving goals for the year | Tax savings opportunity |
| Evaluate Roth conversion room | How much can convert within current bracket? | Long-term tax strategy |
| Set November distribution reminder | Calendar: take RMD by November 15 | Deadline compliance |
| Review tax withholding rate | Verify 20%-30% withholding is set up | Avoid April surprise |
Mid-Year RMD Checklist: Execute and Track
By October verify your QCDs were processed correctly if you planned any. Confirm your RMD distribution is scheduled or in process. Review your year-to-date income to verify your bracket assumptions for withholding are still correct.
Every October: (1) Have you taken your QCDs yet? QCDs must be from the IRA directly — call custodian now if not done. (2) Is your RMD scheduled for November? Confirm with custodian. (3) Any unexpected income this year that changes your withholding needs? This 15-minute check prevents December panic.
Complete annual RMD compliance checklist
| Checklist Category | Item | Frequency | Why It Matters |
|---|---|---|---|
| Calculation | Verify RMD calculation for each account | Annual — January | Required for compliance |
| QCDs | Execute all planned QCDs via direct IRA transfer | As needed — before Dec 31 | Reduces taxable income |
| Distribution | Take full RMD by November-December | Annual | Avoid 25% penalty |
| Withholding | Confirm 20-30% withholding on distributions | Annual | Avoid April tax surprise |
| Beneficiary | Review and update IRA beneficiary designations | Annual or after life change | Estate planning |
| Conversion | Execute planned Roth conversion amount | Annual if applicable | Reduce future RMD burden |
Year-End RMD Checklist: Verify and Confirm
By December 15 each year: confirm your RMD has been fully distributed (check account statements), verify QCDs were processed correctly (get charity receipts), confirm tax withholding was applied, and note the December 31 year-end balance for next year’s RMD calculation.
- December 1: verify RMD has been taken or is scheduled before December 31
- December 15: final verification — check account transaction history for distribution
- December 20: emergency deadline if RMD not yet taken — contact custodian for expedited processing
- December 31: note account balance for next year RMD calculation
- January (next year): complete this checklist starting over from the top
Calculate Next Year RMD and Start Planning Now
Enter your current balance to calculate your upcoming RMD and verify your annual compliance checklist.