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Level 1

I forgot to take my rmd distribution of $291.32 for 2018. I have no 1099-R. I took it Feb.22,2019 when I remembered it. Will I need to submit a Form 5329?

Since I took the 2018 RMD in 2019 should it be included in the income for 2019 and

taxed at 50%? 

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Accepted Solutions
Level 1

I forgot to take my rmd distribution of $291.32 for 2018. I have no 1099-R. I took it Feb.22,2019 when I remembered it. Will I need to submit a Form 5329?

If it was withdrawn in 2019 it will be reported on your 2019 Tax Return.  However, you may need to file Form 5329 with your 2018 Tax Return to pay the late penalty.

If you just turn 70 1/2 in 2017 and this your first RMD, you have until April 1, 2019 to take your RMD for 2018. If that is not the case, you will need to file fill out Form 5329 to request the waiver of the excess accumulation penalty on the RMD since you missed the December 31, 2018 deadline


3 Replies
Level 1

I forgot to take my rmd distribution of $291.32 for 2018. I have no 1099-R. I took it Feb.22,2019 when I remembered it. Will I need to submit a Form 5329?

I have the same question but to add form 5329 and scheduale 4 along with a request waver letter e-file is not an option, it all has to be printed and mailed in to the IRS, am I correct?
Level 1

I forgot to take my rmd distribution of $291.32 for 2018. I have no 1099-R. I took it Feb.22,2019 when I remembered it. Will I need to submit a Form 5329?

 If using the Online version and have no 2018 1099-R to file, you will have to prepare the 5329 manually.
Level 1

I forgot to take my rmd distribution of $291.32 for 2018. I have no 1099-R. I took it Feb.22,2019 when I remembered it. Will I need to submit a Form 5329?

If it was withdrawn in 2019 it will be reported on your 2019 Tax Return.  However, you may need to file Form 5329 with your 2018 Tax Return to pay the late penalty.

If you just turn 70 1/2 in 2017 and this your first RMD, you have until April 1, 2019 to take your RMD for 2018. If that is not the case, you will need to file fill out Form 5329 to request the waiver of the excess accumulation penalty on the RMD since you missed the December 31, 2018 deadline