T. Rowe Price Help Center

• If you turned 72* prior to January 1, 2023 you must take your 2023 RMD before December 31, 2023. As a reminder, if your first RMD was required in 2022 and you haven't already taken it, please be sure to take your 2022 RMD before April 1, 2023. You will still need to take your second (2023) RMD before December 31, 2023. This additional income could have significant tax implications to consider. 
• If you turn 72 in 2023 or later, due to recent changes in the law, no RMD is required until the year you turn 73. 

Please note different RMD rules apply to inherited IRAs. For questions related to inherited IRAs please speak with your tax or legal professional.

If you don’t meet your distribution deadline, IRS penalties may apply.

Learn more about RMD deadlines and penalties.

Your RMD changes each year, based on your current age and account balances at the prior year-end. 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 life expectancy table). The year-end value may need to be adjusted for certain events.

We’re able to help you calculate your RMDs based on IRAs at T. Rowe Price, but if you have IRAs with other companies, you’ll need to calculate the appropriate RMD for each.

If you don’t take the correct RMD amount, IRS penalties may apply.

Are you a T. Rowe Price client? Log in to see your existing distributions and plan your upcoming RMD using the Auto-RMD tool.

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.

Many clients use their RMDs for living expenses, but reinvesting your RMD in a taxable account can be a smart way to keep your money working for you. To reinvest your RMD, take your distribution and invest the funds to a new or existing taxable account. 

Generally, you can distribute up to $100,000 (adjusted for inflation beginning in 2023) 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.

Exclusive tiered benefits included in the Summit Program include special access to lower-cost shares and closed T. Rowe Price mutual funds, and invitation-only events with investment experts. The Program is subject to change without prior notice.

Visit Summit Program Benefits to learn more. 

Your benefit 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. The Program is subject to change without prior notice.

View the Summit Program tiers for more information.

When eligible, converting from Investor Class to corresponding I Class shares of the same mutual fund is free of charge and tax-free (except as noted below) and in most cases maintains the same account number. 

I Class conversions take place quarterly. T. Rowe Price will make reasonable efforts to notify you when one or more of your mutual fund accounts is eligible for I Class. Such notice will provide information about periodic, automated I Class conversion opportunities. You also may contact us to request conversion from Investor Class to I Class for eligible accounts.

If you request/place a transaction in your Investor Class account(s) after market close on the day your shares have converted from Investor Class to I Class shares, such activity will generally be processed in your new I Class account(s), and you will receive a confirmation of the activity.

If you have opted out of this benefit, your decision will apply to future I Class conversion opportunities across your qualifying accounts, and we will not notify you of future I Class eligibilities. You may update this direction at any time by contacting us.

There are circumstances that could prevent the automated conversion process from occurring, including:

• Accounts with certain restrictions, such as an account freeze or purchase block, may not be eligible for the conversion to I Class shares.
• Certain accounts, including T. Rowe Price Brokerage sweep accounts and small business retirement plans with more than one participant that are held directly with T. Rowe Price, are not eligible to invest in the I Class, regardless of account balance.

Investments in certain Retirement Funds, such as T. Rowe Price Retirement 2030 Fund or T. Rowe Price Retirement Balanced Fund, are not eligible for automatic conversion. Account balances in Retirement Funds require an exchange from the Retirement Fund to the Retirement I Fund - I Class (i.e., a redemption and purchase across different mutual funds). This type of transaction could create a taxable event for you if your Retirement Fund is held in a taxable registration. To direct an exchange from a Retirement Fund to a Retirement I Fund – I Class, please call us at 1-800-779-4393. If you have questions, please contact us.

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.  

Clients can log in and see a tax summary for their realized gains/losses, capital gain distribution, and income dividends for 2022 and 2021.

Visit the Tax Planning Center for tax forms, resources, and planning information including Mutual Fund Dividend Distributions.

View the Tax Information Mailing Schedule for when T. Rowe Price tax statements, forms, and packages necessary for your tax planning will be sent.

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.

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.