One of my inherited accounts failed to send me my RMD because the automated system lost my automatic withdrawal rule for the year 2024 (the first time in 9 years). The person I inherited the IRA from passed away in 2015 so the 10 year rule does not apply to me. I am going to take the RMD right away and plan to file form 5329 with a request to waive the penalty. My question is: Do I amend my 2024 tax return that was already sent and paid, or do I file the 5329 form with my taxes for 2025 that I will submit in 2026?
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Form 5329 has to be filed with your tax return for the year that you should have taken the RMD. File an amended return for 2024 to add Form 5329 to your 2024 tax return.
I won’t have a 1099R form yet and will not get that until next year. The 1099R will have my combined 2024 and 2025 RMD on it and the taxes withheld for the combined total. Don’t I need the 1099R form for the amended form? Thank you for the help.
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