In response to the IRS suspension of RMDs for 2020 we have notified our IRA customers of that ruling. Now a customer has called to ask if her RMD can be reversed. She is on automatic annual distribution. She receives her RMD on Jan 5 of each year, so she is well beyond any 60 day rollover option.
We have the capability to reverse the transaction as if it never occurred. Our reporting doesn't occur until year end, so no issues there. Is there a reason we shouldn't do this? Any thoughts would be greatly appreciated.
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