Will the IRS penalize for not taking RMD for the year 2020?

Did the IRS allow not to take RMD for the year 2020? I was under the impression it did and so I did not take the usual yearly RMD.

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4 Replies

Right! The RMD was waived for 2020. You didn't have to take it.

Most, but not all, RMD's were waived for 2020. What type of plan do you have (pension, IRA, 401(k), etc.)?

IRA pension

Great, thank you. Just wanted to make sure.

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