Missed RMD for 15 years

New elderly client received a letter from her investment company informing her that she has failed to withdraw her RMD starting in 2002 through 2016. The total RMD for all these years is approximately $31,000.

Client will withdraw the $31,000 in 2017 and request penalty relief on the form 5329.

We are waiting on investment company to calculate the earnings on this amount, so that amount can be withdrawn as well.

How many forms 5329 do we need to file? One for each year or can we just file one form 5329 and report the entire $31,000?

Thank you in advance.



A separate 5329 is required for each year except 2009 when RMDs were waived. That means that the RMD amount for each year must be calculated using the prior year end balance. There is no specific requirement to withdraw earnings on the missed RMDs although it might help secure the penalty waiver by indicating good faith. The total amount distributed will be taxable in the year distributed.

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