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I withdrew the total amount from a small traditional IRA but did not roll it over. I turned 72 in 2021. Do I still need to pay and RMD for that account?

 
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5 Replies
LeonardS
Expert Alumni

I withdrew the total amount from a small traditional IRA but did not roll it over. I turned 72 in 2021. Do I still need to pay and RMD for that account?

No, you do not have to pay an RMD for your account.  The total distribution from your small traditional IRA satisfies the RMD requirement.

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I withdrew the total amount from a small traditional IRA but did not roll it over. I turned 72 in 2021. Do I still need to pay and RMD for that account?

But what if the amount OP took was less than RMD?  We don't know how much he/she took.

I withdrew the total amount from a small traditional IRA but did not roll it over. I turned 72 in 2021. Do I still need to pay and RMD for that account?

Okay, I just reread your question. You did say you had withdrawn 100% of that account.  But did you have any other IRA accounts?

I withdrew the total amount from a small traditional IRA but did not roll it over. I turned 72 in 2021. Do I still need to pay and RMD for that account?

I have a larger IRA for which the RMD is calculated and distributed. The account in question is a much smaller IRA which took the entire amount and did not roll it over.

I withdrew the total amount from a small traditional IRA but did not roll it over. I turned 72 in 2021. Do I still need to pay and RMD for that account?

thanks. That answered my question.

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