RMD Reporting Requirements

[Guest AFRICA6796]

The RMD reporting requirements (as stated under IRA Notice 2002-27-attached) provide two alternatives for reporting the RMD.

A paragraph states.

“Under both alternatives, the statement must also inform the IRA owner that the trustee will be reporting to the IRS, beginning with required minimum distributions for calendar year 2004, that the IRA owner is required to receive a required minimum distribution for the calendar year. (See section II below.) The statement can be provided to the IRA owner in conjunction with the statement of the fair market value of the IRA as of December 31 of the prior year that is otherwise required to be provided to the IRA owner by January 31 of a year.”

My confusion is with the sentence “beginning with required minimum distributions for calendar year 2004”. Does this mean beginning with RMDs for 2004? Or does it mean that the sentence must be included in the notification for 2003?