Have a prospective client, female age 63. She retired in October of 2021. Planning to do a Roth conversion in 2021. With her age 63, we are looking at the IRMAA brackets to help us make the decision. With her recent retirement and therefore change of life event, we want to clarify the appropriate time to file the Change of Life Form through SS to “reset” that look back. I see two options but want to ensure that we are reading through the rules appropriately.

Option 1: File beginning of 2022. This would allow us to not need to take IRMAA into consideration for 2021.

Option 2: File beginning of 2023. This would allow us to not need to take IRMAA into consideration until 2023.

The issue that we are having is the timing. We want to ensure that she does get the “reset” at least for one year but are hopeful the life changing event could be filed in 2023. My gut tells me that we need to file in 2022.

Thanks!