We forgot to take money out of my wife's two IRAs to cover the RMD. What do we do now?

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We forgot to take money out of my wife's two IRAs to cover the RMD. What do we do now?

The Coronavirus Aid, Relief, and Economic Security Act, or CARES Act, waives required minimum distributions during 2020 for IRAs and retirement plans, including beneficiaries with inherited accounts. This waiver includes RMDs for individuals who turned age 70 ½ in 2019 and took their first RMD in 2020. Roth IRAs do not require withdrawals until after the death of the owner.

We forgot to take money out of my wife's two IRAs to cover the RMD. What do we do now?

"What do we do now?"

pay the tax by May 17th.

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