Yes and yes. Check the "Yes, I took out the entire remaining amount during the correction window". And, although there will be a penalty, you may request a waiver by following the steps below.
- Go to your Form 1099-R information in the Wages & Income section
- Continue through answering the questions, until you reach, "Let's go over any required minimum distributions (RMD)"
- Select Yes for, "Let's check if you missed any required distributions"
- Continue, then enter the total RMD that was due by December 31, 2025 when you reach, "Tell us the total RMD for your other IRA accounts"
- Select Yes when you reach, "Did you take a corrective distribution for your IRA?", then Continue
- Select Yes when you're asked, "Do you want to request a waiver to reduce the penalty?", then Continue
- Enter the RMD amount that you are requesting a waiver on (amount of your missed payment), then Continue
- Write your explanation in the next section, then Continue
- You will then reach, "Nice job finishing your waiver", Continue
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