RMD for people who turned 70 1/2 in 2009

[PIGLEE]

A client emailed this to me, she saw a poster at the Bank, and saw it on there web-site. It had not been there before.

"People who have taken RMD;s prior to 2009 don't have to take an RMD for 2009./ But people who turned 701/2 in 2009, and have never taken an RMD, have to take one by 4-1-10, and another one by 12-31-10."

I had not heard this before, I looked at page TTB 13-23, I don't see it anywhere. I thought everyone was exempt for 2009.

Has anyone else heard of this?

[JSLATER]

From the IRS:
How does the 2009 RMD waiver affect an account owner who may turn 70½ in 2009?

An account owner who turns 70 ½ in 2009 would have been required, in the absence of the 2009 RMD waiver, to take his or her first RMD (the 2009 RMD) by April 1, 2010, and then take his or her 2010 RMD (the second RMD) by December 31, 2010. The Act, however, waives the first RMD (the 2009 RMD) for account owners who turn 70 ½ in 2009. However, the 2009 RMD waiver does not affect RMDs required for 2010. Therefore, the account owner who turned 70 ½ in 2009 would still be required to take his or her second RMD by December 31, 2010.

[S T]

Prior Post on RMD

There was also a good thread on this a few days ago

http://www.thetaxbook.com/forums/showthread.php?t=14534

Sandy

[dyne]

Another point of interest is that RMD may NOT be rolled over or put into a ROTH
CONVERSION. Only the EXCESS of distributions from pensions, retirements, IRA's
may be put into a ROTH CONVERSION.