dmertz
Level 15

Retirement tax questions

If the IRS catches the failures to take RMD before requests for waiver of the excess accumulation penalties are made, the IRS will be less likely to grant a waiver of the 50% penalties.

 

Be aware that RMDs for tax-year 2009 were waived due to the financial crisis, so no 2009 Form 5329 requesting waiver for a missed RMD in 2009 is needed.