RMB 403B
Problem with 2019 RMD for Pansy. Lawrence took her 403b RMD out of her IRA because the 403b is guaranteed 4% growth every year. Didn’t have to take RMD last year. Wants to know how to rectify and was planning to write a letter to IRS. Anyone have any ideas besides sending letter with waiver request? He did pull the correct amount out, just from the wrong account.
Permalink Submitted by Alan - IRA critic on Thu, 2021-09-16 02:43
There is no way to rectify this once the 60 day rollover deadline passed unless she has documentation that her 403b or IRA custodian stated this was allowed. I assume she also took her 2019 IRA RMD in addition to the amount that would have been the 403b RMD, so at this point she will have to make up the missed 403b RMD and file Form 5329 to request that the penalty be waived.