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New Member
posted Apr 9, 2021 3:06:09 PM

Is there a penalty if you do not withdraw the minimum amount from your tradditional IRA?

this year is there a penalty if you do not withdraw the minimum amount required from your traditional ira ?

0 2 398
2 Replies
Level 15
Apr 9, 2021 3:07:38 PM

Yes. In 2021 you must withdraw your RMD. 

Level 15
Apr 9, 2021 3:11:06 PM

If you mean for your 2020 return the RMD was waived and you do not need to take it.

 

Here is a worksheet to calculate the RMD

https://www.irs.gov/pub/irs-tege/uniform_rmd_wksht.pdf