Guidance for 2009 RMD Waiver
10/02/2009
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Section 401(a)(9) of the Internal Revenue Code requires that IRAs and certain Qualified Plans participants take annual Required Minimum Distributions (RMDs) starting in the year in which the participant attains the age of 70½. Roth IRAs are not subject to this requirement.
The Worker, Retiree, and Employer Recovery Act of 2008 (“WRERA”) waived this requirement for 2009. Earlier this year IRS Notice 2009-9 provided the initial guidance on how the waiver would work and the reporting requirements for 2009.
On September 24, 2009 IRS issued Notice 2009-82 providing further guidance regarding the 2009 RMD waiver.