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Retirement tax questions
If you just turned 72 in 2021 (born after Jun 30, 1949) then you have until April 1, 2022 to take the RMD.
If this was your first year to take the RMD then you will have to take the RMD as soon as possible.
"The penalty may be waived if the account owner establishes that the shortfall in distributions was due to reasonable error and that reasonable steps are being taken to remedy the shortfall. In order to qualify for this relief, you must file Form 5329 PDF and attach a letter of explanation." (IRS)
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‎February 21, 2022
1:22 PM