RCK13 Posted May 14, 2021 Share Posted May 14, 2021 We have a situation where a participant erroneously took their first RMD in 2020 because they met the old rule's requirement for RMDs rather than the new one. Is she required to continue taking an RMD annually even thought she isn't 72 yet? For reference: DOB: 4/1/1950, Retired 12/31/2019, Took RMD 2020. On the one hand, she isn't aged 72 yet (which is her RMD age), so I would think it's not necessary to continue her RMDs this year. But on the other hand, we haven't had a problem like this before so I figured I would see if others had any input. Thanks! Link to comment Share on other sites More sharing options...
Lou S. Posted May 14, 2021 Share Posted May 14, 2021 I imagine the plan allows for distributions at NRA and whether or not it is an RMD she can probably take it anyway. Just check the document t o make sure it's allowed. And since it's technically not an RMD it's eligible for rollover subject to the 20% withholding rules. But if she doesn't want the "RMD" she doesn't have to take it for 2021. RCK13 and Bill Presson 2 Link to comment Share on other sites More sharing options...
RCK13 Posted May 14, 2021 Author Share Posted May 14, 2021 Thanks, Lou S. That makes sense. Link to comment Share on other sites More sharing options...
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