taxmap/instr2/i5329-012.htm#TXMP1ee4e941You owe this tax if you do not receive the required minimum distribution from your qualified retirement plan, including an IRA or an eligible section 457 deferred compensation plan. The additional tax is 50% of the excess accumulation—the difference between the amount that was required to be distributed and the amount that was actually distributed. The tax is due for the tax year that includes the last day by which the minimum required distribution is required to be taken.
taxmap/instr2/i5329-012.htm#TXMP4f133771For 2009, you are not required to take a minimum distribution from your IRA or certain employer-provided qualified retirement plans that are defined contribution plans. This waiver applies to plan participants as well as beneficiaries in:
The waiver also applies to those individuals who turned age 70 in 2009 and delay taking their required distribution until April 1, 2010. For more information on the temporary waiver, see Pub. 575 (retirement plans) and Pub. 590 (IRAs).
The temporary waiver does not apply to required distributions for 2008, even for individuals who turned age 70 in 2008 and chose to take their required distribution by April 1, 2009. If you postponed a distribution required for 2008 until 2009, enter that amount on line 50. Also enter any amount which does not qualify for the 2009 waiver for minimum distributions. See Waiver of required minimum distributions for 2009 above for plans that qualify for this waiver.
taxmap/instr2/i5329-012.htm#TXMP46f915c5taxmap/instr2/i5329-012.htm#TXMP6a1ccf84You must start receiving distributions from your IRA by April 1 of the year following the year in which you reach age 70. At that time, you can receive your entire interest in the IRA or begin receiving periodic distributions. If you choose to receive periodic distributions, you must receive a minimum required distribution each year. You can figure the minimum required distribution by dividing the account balance of your IRAs (other than Roth IRAs) on December 31 of the year preceding the distribution by the applicable life expectancy. For applicable life expectancies, see Pub. 590.
If the trustee, custodian, or issuer of your IRA informs you of the minimum required distribution, you can use that amount.
If you have more than one IRA, you can take the minimum required distribution from any one or more of the individual IRAs.
For more details on the minimum distribution rules (including examples), see Pub. 590.
 | A qualified charitable distribution will count towards your minimum required distribution. See Pub. 590 for more information. |
taxmap/instr2/i5329-012.htm#TXMP764c714e There are no minimum required distributions during the lifetime of the owner of a Roth IRA. Following the death of the Roth IRA owner, required distribution rules apply to the beneficiary. See Pub. 590 for details.
taxmap/instr2/i5329-012.htm#TXMP061aded2In general, you must begin receiving distributions from your plan no later than April 1 following the later of (a) the year in which you reach age 70 or (b) the year in which you retire.
taxmap/instr2/i5329-012.htm#TXMP669e2776If you owned more than 5% of the employer maintaining the plan, you must begin receiving distributions no later than April 1 of the year following the year in which you reach age 70, regardless of when you retire.
Your plan administrator should figure the amount that must be distributed each year.
taxmap/instr2/i5329-012.htm#TXMP4e2c82e9The IRS will review the information you provide and decide whether to grant your request for a waiver.
For more details, see Pub. 590.
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