@asgoodasitgets680 wrote:
My wife has 3 different IRA accounts. - for tax year 2021 she was 73 - It is our understanding that was not required to make RMD from all accounts - we have only taken RMDs out 2 of the accounts. In the mail this week received a letter from one of the accounts that made reference to a required RMD by 31 Dec, 2022 - "Since you will attain at least age 72 in 2022, you are required to take your first RMD by April, 2023 and a second RMD in the same tax year."
If for tax year 2021 there is a requirement to take an RMD from each account and the action is taken this year to have an RMD from the account that we didn't how does that get calculated for my tax year 2021?
The trustee is reminding you of your obligations, they don't know what you have already done. The letter is also written as if she turns 72 next year, maybe it's a form letter, or maybe her birthdate is in their records incorrectly. You might want to check with them.
An RMD is an amount, not a specific transaction. It is the smallest amount you must withdraw to avoid a penalty. You can always withdraw more, if you want to spend it, but you should not withdraw less.
The RMD is calculated by grouping like accounts together. Since your wife has 3 IRA accounts, you can combine the balances to determine the RMD for 2021. Once you know the amount, you can take it from any combination of the accounts—it does not have to be divided among all three accounts, as long as you withdraw at least the required minimum amount from some combination of your IRAs.
In other words, if the RMD based on her age and combined account balance is $3000, you could satisfy that by withdrawing $1000 from each account, or $3000 from a single account. (Or more, of course, since that's just the minimum.)
Since your wife turned 72 in 2020, the grace period rule applied to 2020 and 2021, not 2022. That part of the letter does not apply to you. She must have taken her RMD by December 31, 2021, but it could come from any account as long as the right amount of money was withdrawn.
