Question

duplicate RMDs from Inherited IRA

Forum|Forum|4 years ago
April 8, 2022
1 reply
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Our financial advisor mistakenly made a duplicate RMD withdrawal from our inherited IRA. Is there a way to redesignate the duplicate made in November of 2021 to be the RMD for 2022? Since the taxes have apparently already been sent to the Feds and state, it seems like redesignating would be easier than trying to roll it back. Does anyone have some guidance they can offer? The financial advisors have spent over a week trying to find an answer and don't have one yet.

Not A Product Question

LeonardS

No, you can not redesignate the duplicate withdrawal made in November 2021 for your RMD. You would have been able to return the duplicate within 60 days of it having been distributed to you but that time period has expired.

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