Hi,
I have a participant who should have received a rmd 4/1/2007. He will receive two this year. My question is - for the rmd that was due 4/1/2007 - I should use 12/31/2005 ending balance to calculate this rmd - correct? Even though the distribution is now late.
Is there a reg that discusses this specifically? I know that this is the correct way of handling this, I just want to have support in my file for handling this in this manner.
Thank you!
Linda