Level 1

posted Mar 21, 2025 10:45:36 AM

First Year 2024 RMD taken in March 2025

I have taken my first year RMDs for 2024 in March 2025 as required by April 1. I have been told by the company holding my account that I will need to file Form 5329 with my 2024 taxes with a letter of exemption asking for a waiver of penalties. This seems unnecessary since I received the RMD by the required time. What is required?

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1 Best answer

Level 15

Mar 21, 2025 10:48:32 AM

The company is completely wrong.

(maybe you need a new custodian)

See IRS.gov /news where they just posted an article on this.

1 Replies

Level 15

Mar 21, 2025 10:48:32 AM

The company is completely wrong.

(maybe you need a new custodian)

See IRS.gov /news where they just posted an article on this.

IRA