I turn 70 on March 6, 2009--hence 70-1/2 during 2009. Before the recent Worker, Retiree, and Employer Recovery Act of 2008 (H.R. 7327) became law on Dec. 14, 2008, I was advised to take my first RMD any time in 2009, based on the 12/31/2008 balance in my SEP-IRA to avoid having to take a double RMD in 2010. However, does this still hold true based on the above new law? In other words, can I defer taking my 2009 RMD altogether, and take my first one in 2010 without incurring any penalties? If so, what is the formula for the 2010 RMD based on my 2009 IRA year-end balance; must it be taken before April
1, 2010, will I now be exempt from the double RMD by skipping the one for 2009, the year in which I turn 70-1/2, and are there any other ramifications that I should be aware of?- posted
15 years ago