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RMD Penalty


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29 minutes ago, JackieCPA said:

If a client didn't take their 2021 RMD from their IRA, but they took enough out of a pension to cover what the RMD would have been - does that count or does it have to be from an IRA and pensions do no count? 

No, the RMD would have to come from the IRA.


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Do I have to amend a tax return if I am filing 5329 and asking for reasonable cause waiver of the penalty for not taking your RMD? or do I have to amend the return and show an amount due on it and ask for waiver with it? Or can I just file the 5329 with a waiver explanation separately? 

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