General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsRequired Minimum Distribution (IRA, age 72) for 2021.
Does anyone know if, like in 2020, the RMD for someone age 72 or above has been waived by the rescue plan for 2021?
This question isnt for me, but for a friend who met with her financial adviser recently. He was unsure whether or not the RMD had been addressed in the stimulus bill for 2021, and I thought some smart DUer might know.
TIA!!
Hokie
(4,288 posts)Buried towards the end is this:
No RMD Relief Despite financial markets being near all-time highs, the calls for additional RMD relief (e.g., an extension of the temporary waiver of RMDs that applied in 2020) have not gone away. But that doesnt mean Congress is listening, either. To that end, the Act does not include any provision eliminating RMDs for 2021, or other years.
hamsterjill
(15,223 posts)See, I knew there would be a smart DUer!!!
Appreciate your help. The financial advisor seems to think that it may still be addressed in a few months but he was unsure whether anything was in the Bill. Thanks for that clarification.
FBaggins
(26,754 posts)Last edited Thu Mar 11, 2021, 09:17 PM - Edit history (1)
They also do not appear to have extended the penalty-free withdrawals or the ability to spread the taxes over three years... or return funds withdrawn because of the pandemic
hamsterjill
(15,223 posts)Appreciate it.