clydewolf
We know that for 2009 RMDs from our TIRAs were suspended. That announcement came very late in 2008. As a result some TIRA Owners and Spousal Beneficiaries may have taken part or all of their 2009 RMD. This could have happened easily if you had an automatic distribution order with your IRA custodian. Prior to this time, the IRA participant had 60 days to return this money to their IRA.
On September 24, 2009 the IRS issued Notice 2009-82. This notice allows IRA Owners and Spousal Beneficiaries that received unwanted RMDs to put back 2009 RMDs received earlier this year.
The 60 day requirement for ROLLOVERs is being waived for IRA Owners and Spousal Beneficiaries regarless of when you received the RMD. The deadline is November 30, 2009 or 60 days from the date you received the unwanted RMD, which ever is later.
A Note of CAUTION: The one ROLLOVER rule per year is still in effect.
Non-spousal beneficiaries did not need to take an RMD for 2009. But if they did, this RMD relief does not apply to those non-spousal beneficiaries, as they can not do a rollover in an inheirited IRA.
One other note, doing this Rollover could increase your RMD in future years.
If this does not apply to you, you shold mention this to your family and friends that are in the RMD age range.
On September 24, 2009 the IRS issued Notice 2009-82. This notice allows IRA Owners and Spousal Beneficiaries that received unwanted RMDs to put back 2009 RMDs received earlier this year.
The 60 day requirement for ROLLOVERs is being waived for IRA Owners and Spousal Beneficiaries regarless of when you received the RMD. The deadline is November 30, 2009 or 60 days from the date you received the unwanted RMD, which ever is later.
A Note of CAUTION: The one ROLLOVER rule per year is still in effect.
Non-spousal beneficiaries did not need to take an RMD for 2009. But if they did, this RMD relief does not apply to those non-spousal beneficiaries, as they can not do a rollover in an inheirited IRA.
One other note, doing this Rollover could increase your RMD in future years.
If this does not apply to you, you shold mention this to your family and friends that are in the RMD age range.