You won’t need to pay the fine if:
- You can show you had a reasonable cause for the failure to take an RMD distribution (such as an illness, bad advice, or dependence on the bank or other advisors)
- You took steps to withdraw the amount as soon as you discovered the oversight.
Use IRS Form 5329, with a letter of explanation, requesting relief from the penalty. Contact your tax preparer if you need help with this form.