2007 RMD's

[TPAnnie]

Is the 4/1/07 deadline for RMD's pushed to 4/2/07 because the first is a Sunday? I have been searching everywhere for some written guidance, but can't find anything. If your answer is yes, do you have a cite?

thanks!

Annie

[DTH]

No.

For the determination/filing, collection, or refund of taxes IRC section 7503 provides that if the due date falls on a weekend or legal holiday, the due date becomes the next business day "after" the date required.

There is no revenue ruling nor Code section for corrective and required distributions. Thus, if the due date falls on a weekend or legal holiday, the due date becomes the immediate Friday or next business day "before" the date required. For initial MRDs due by 4/1, the 2007 due date is 3/30/07.

[TPAnnie]

Thank you so much! I felt that must be the answer, otherwise I would have found something on this before. But, I didn't want to tell a client no without some affirmation.

thanks again!!

Annie