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Returning Member
posted Apr 6, 2021 8:11:17 PM

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.

0 4 926
4 Replies
Level 15
Apr 6, 2021 8:13:40 PM

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

Level 15
Apr 7, 2021 9:02:31 AM

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

Returning Member
Apr 14, 2021 9:35:39 AM

IRA pension

Returning Member
Apr 14, 2021 9:36:44 AM

Great, thank you.  Just wanted to make sure.