topic Re: RMD underpayment in Retirement tax questions

RMD underpayment

Mikeh8 — Mon, 09 Mar 2026 10:52:34 GMT

I've got four IRAs and I always take my RMDs in December. This year I took RMDs on three of the four, but I forgot to take the RMD on the fourth one. I believe I've got to file a Form 14568-H; is this the correct form and is it available in TurboTax or do I need to file this separately? Thanks!

Re: RMD underpayment

JohnB5677 — Wed, 13 Apr 2022 12:14:19 GMT

You must take the RMD as soon as possible and then file form 5329 and a letter of penalty forgiveness with TurboTax online. You will need to file a 5329 form and request a waiver of the penalty. (The waiver would only be denied if there is no reasonable explanation and the missed RMD was not taken at all.)

You will post a substitute 1099-R

To file a substituted 1099-R:

Wages & Income
IRA, 401(k), Pension Plan Withdrawals (1099-R)
Did you get a 1099-R in 2021? Yes
Get ready to be impressed - Continue
Select Change how I enter my form
Type it Myself
Continue the interview from here.
In most cases Box 7 is code 7
There will be a question: Do any of these situations apply to you?
Select I need to file a substitute 1099-R
Continue through the interview

View or Download the blank 2021 5329 form here:
Form: http://www.irs.gov/pub/irs-pdf/f5329.pdf
Instructions: http://www.irs.gov/pub/irs-pdf/i5329.pdf

Re: RMD underpayment

Mikeh8 — Fri, 15 Apr 2022 18:02:51 GMT

Thanks! this gave me a big feeling of relief. Clearly explained the situation and correction mechanism.