The waiver letter is just an explanation statement. Your return may have multiple statements. You can check in your forms to see if you have the statement that goes with the Form 5329.
If you didn't have enough taken out:
- you can request a waiver of the penalty due to the extenuating circumstances on Form 5329.
- Withdraw the amount that was missed and get back on schedule.
- The IRS usually grants the waiver under such circumstances.
I have another post for TTD with step by step entry with screen shots to ask for waiver
Reference:
Consequence for failing to take required minimum distributions
If you do not take any distributions, or if the distributions are not large enough, you may have to pay a 25% excise tax on the amount not distributed as required.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
