July 1, 1946 Birthday
Did client with DOB 7/1/1946 reach age 70.5 in 2016? He thinks he was 70.5 on 1/1/2017. I think he was 70.5 on 12/31/16, and he has missed his RMD. 7/1/2016 was the 183rd day of 2016 and there were 183 days left in the year.
If I'm right, should I just finish up this return and get it filed, have him take the RMD ASAP, and do the begging with Form 5329 as soon as I can get to it?
Interesting, and thanks! That kind of makes sense since he was born on a holiday, so they gave him the day earlier to make sure he wasn't harmed by the system making an erroneous calculation. Maybe that is what Rich remember too.
