Tanisha EA
Employee Tax Expert

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Hi SMK11! This is a great question.

 

CA does have a penalty. If all or a portion of an RMD was not timely withdrawn, there was a significant penalty of 50%. (That penalty has since been reduced to 25% by SECURE 2.0, and further to 10% if the error is corrected within, typically, two years.)

 

https://calretirees.org/Join/Find-A-Chapter/Chapter-2/Article/1340/Required-Minimum-Distributions#:~....

 

You can request a waiver if you meet certain criteria.

 

https://cradvisors.com/blog-articles/3-year-statute-of-limitations-missed-rmds

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