Renee H Posted May 21, 2021 Posted May 21, 2021 I have a take-over 401k plan and discovered form 8955-SSA was not filed for 1 participant who terminated in 2013. She turned 70.5 in 2019 and has not taken any RMDs. All accounts are earmarked and this participant has had full disclosure and control regarding the investment of her benefits. Should I file the 8955-SSA for 2020? The record-keeper missed the RMD deadline. I would appreciate some advice on how to fix these issues.
C. B. Zeller Posted May 24, 2021 Posted May 24, 2021 If she turned 70½ in 2019, then her required beginning date was 4/1/2020. RMDs due 4/1/2020 and 12/31/2020 were waived by the CARES Act, so her next (first) RMD is due 12/31/2021. Free advice is worth what you paid for it. Do not rely on the information provided in this post for any purpose, including (but not limited to): tax planning, compliance with ERISA or the IRC, investing or other forms of fortune-telling, bird identification, relationship advice, or spiritual guidance. Corey B. Zeller, MSEA, CPC, QPA, QKA Preferred Pension Planning Corp.corey@pppc.co
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