RMD for 2011/ do we have until April 15th ?
We have a client that did take their RMD for 2011. Do we have until April 15th of 2012 ? Or was it 12/31/11 ?
His DOB is 9/4/39 ( 71.5).
We have a client that did take their RMD for 2011. Do we have until April 15th of 2012 ? Or was it 12/31/11 ?
His DOB is 9/4/39 ( 71.5).
Permalink Submitted by Alan Spross on Mon, 2011-04-11 18:26
The 2012 RMD is not required prior to 12/31/2012.
But if client turned 70.5 in 2010 and postponed their 2010 RMD until 4/1/2011, then the RMD taken may have been their 2010 RMD. If that is the case, then they have until 12/31/2011 to take their 2011 RMD. The year a taxpayer turns 70.5 is the only year that the IRA RMD can be deferred until 4/1 of the following year. For all other years, that year’s RMD must be taken by the end of that year.