My mom is of RMD age (75) and opened a brand new SEP IRA in 3/2021 (for tax year 2020) so had $0 in it until 3/2021. Is she required to still take a 2021 RMD from it?

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My mom is of RMD age (75) and opened a brand new SEP IRA in 3/2021 (for tax year 2020) so had $0 in it until 3/2021. Is she required to still take a 2021 RMD from it?

Of course not ... there was nothing in the SEP on 12/31/2020 so there is no RMD ... o% of zero is still zero. Confirm this with the SEP custodian.

My mom is of RMD age (75) and opened a brand new SEP IRA in 3/2021 (for tax year 2020) so had $0 in it until 3/2021. Is she required to still take a 2021 RMD from it?

The RMD is based on the year end value of the prior year.

My mom is of RMD age (75) and opened a brand new SEP IRA in 3/2021 (for tax year 2020) so had $0 in it until 3/2021. Is she required to still take a 2021 RMD from it?

If your mom already has other IRAs, the RMD will be required.

The contribution to a new or existing account in 2021 will have no effect.

The RMD can be taken out of any account or accounts you wish, including the new SEP.

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