When do I take my first RMD from a pension lump sum rollover to an IRA?

[fanfare]

you can't be liable for an IRA 2018 RMD if you had no IRA in 2017, even if you are already age 70 1/2.

[fanfare]

correction : 2017 you can't be liable for an IRA 2019 RMD if you had no IRA in 2018, even if you are already age 71 1/2.

[aomm]

Wanted to say thanks for this link, as it was exactly what I was looking for. So the lump sum pension rollover, in the year that a minimum distribution is required, is to have the amount calculated in one of two ways, as spelled out in that link. Not easy to find the answer on irs.gov, but that Cornell link goes right to the code of federal regulations. Again, thanks, @dmertz There was some coding issue in the link in the original post, so maybe this will work better for folks: www.law.cornell.edu/cfr/text/26/1.401(a)(9)-6

[Kostbade]

Please provide me instructions as to how to amend my 2020 tax filing

for failure to take my IRA rmd - please provide instructions that I print

and follow, thank you.

[AmyC]

The form 5329 states that you should only file an amended return if there are changes beyond this form. If you are only filing due to the RMD, mail in just the form 5329. Since this was 2020, you need to file the 2020 version of the 5329, see .Prior Year Forms and Instructions.

You may qualify for a waiver if you have a good reason for missing the RMD and have now tried to remedy the situation with a distribution. The instructions state: 

Waiver of tax. The IRS can waive part or all of this tax if you can show that any shortfall in the amount of distributions was due to reasonable error and you are taking reasonable steps to remedy the shortfall. If you believe you qualify for this relief, attach a statement of explanation and file Form 5329 as follows.

1. Complete lines 52 and 53 as instructed.

2. Enter “RC” and the amount of the shortfall you want waived in parentheses on the dotted line next to line 54. Subtract this amount from the total shortfall you figured without regard to the waiver, and enter the result on line 54.

3. Complete line 55 as instructed. You must pay any tax due that is reported on line 55.

The IRS will review the information you provide and decide whether to grant your request for a waiver. 

@Kostbade

If only RMD, fill out 5329. If you have additional changes and need to amend your return, 

• Save a copy of the original return before doing an amended return.
• See how to file an amended return.
• Follow your amend at track an amended return