topic My retirement is pension I don't take RMD why is it saying I must? in Retirement tax questions

My retirement is pension I don't take RMD why is it saying I must?

winwithjesus — Wed, 05 Feb 2020 18:13:34 GMT

Do I need to file RMD as this is a pension from CA?

Re: My retirement is pension I don't take RMD why is it saying I must?

MayaD — Wed, 05 Feb 2020 19:09:51 GMT

All retirement accounts, even pensions, must meet the RMD requirements.

If you are receiving periodic (monthly) payments from your pension plan then you are meeting the RMD requirements and you can safely answer "yes" to the question.

Re: My retirement is pension I don't take RMD why is it saying I must?

SteamTrain — Wed, 05 Feb 2020 19:15:40 GMT

As soon as you reach age 70.5 The software will ask that about every 1099-R you enter.

Generally, For a pension, where you are just getting regular monthly payments out of the account, as determined by the pension administrator.....then you just say you received all f the RMD for that particular 1099-R . The issuer of pensions is responsible for following IRS rules on their RMD distribution RMD amount.

For 1099-R forms form a 401k or, TSP, or from an IRA account, you have to make sure (separately) that you take at least your proper RMDs every year (can even take out more), because those are usually under your control.