My retirement account did not send me a notice to take an RMD for 2022....
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tribuilder
Member Posts: 2 Newcomer
I have now corrected that and taken the proper amount for that missed RMD as well as the proper amounts for 2023. I called the IRS and their advice was to file a 1040X for 2022 and attach form 5329, explaining what happened and the actions I have taken….does this all sound correct? Thx….
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Hello, tribuilder!
That does sound correct!
You can request a waiver of the penalty for not receiving an RMD by filing Form 5329 if the account owner establishes that the shortfall in distributions was due to reasonable error and that reasonable steps are being taken to remedy the shortfall.
For more information, see Q9 at the link below:
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Thx Alex….will proceed as discussed!