Missed 2017 RMD

Submitted by Kevin O'Hearn on Tue, 2018-10-09 12:51

Hello, a client (75 years old) had an IRA at an outside firm in 2017 and their RMD was never taken. Account is now with my company and the client has taken the missed RMD for 2017. For the 2018 RMD should I just take the 12/31/17 and just minus the missed 2017 RMD amount to calculate the client’s 2018 RMD?



Submitted by David Mertz on Tue, 2018-10-09 14:24

No.   To calculate the 2018 RMD, use the actual 12/31/2017 balance with no adjustment for the late-taken 2017 RMD.

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