RMD penalty waiver

Technical topics regarding tax preparation.
#1
LDCPA  
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173
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8-Aug-2022 8:04pm
Location:
CA
Taxpayer did not take RMD for 2021.
I know that form 5329 should be filed. I want to efile it with the return. How do I ask for a penalty waiver? Can I attach a request letter as a pdf to the efiled return and instruct the taxpayer not to pay and wait to hear from the IRS? Or is mailing the penalty waive letter required?
I hesitate to mail anything to the IRS now that can be efiled.
 

#2
sjrcpa  
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Maryland
Your software should have a place in the 5329 section to ask for the waiver. See Part IX of the Form 5329.
 

#3
LDCPA  
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173
Joined:
8-Aug-2022 8:04pm
Location:
CA
sjrcpa wrote:Your software should have a place in the 5329 section to ask for the waiver. See Part IX of the Form 5329.


Found it. Thank you!
 

#4
Spock  
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69
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13-Jul-2021 4:31pm
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United States
Have you all run into situations where the IRS has assessed the penalty for missed RMDs even though a waiver request was submitted on 5329? Or do they typically waive?
 

#5
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I have never seen any correspondence form the IRS on this topic. I suspect I am not alone.
 

#6
sjrcpa  
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6569
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Location:
Maryland
I have never had a penalty waiver denied in this situation.
 


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