2009 Waiver for IRA RMD

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leo
Posts: 5
Joined: Sat Dec 19, 2009 11:30 am

2009 Waiver for IRA RMD

Post by leo »

Can any one confirm that the requirement to take a minimum distribution from an IRA account has been suspended for 2009?

I asked a tax guru about this and got the reply:

"The temporary waiver applies only to persons who receive a pension from an entity in which they are NOT a 5% or more shareholder:

Under the provision, no minimum distribution is required for calendar year 2009 from individual retirement plans and employer-provided qualified retirement plans that are defined contribution plans (within the meaning of section 414(i)). Thus any annual minimum distribution for 2009 from these plans required under current law, otherwise determined by dividing the account balance by a distribution period, is not required to be made. The next required minimum distribution would be for calendar year 2010. This relief applies to life-time distributions to employees and IRA owners and after-death distributions to beneficiaries."

Can anyone tell me if this means yes or no?
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