RMDs for beneficiares
If a person who dies at age 50 and owns a TIRA, can the non-spouse inherited TIRA beneficiares wait until the owner age would have been 70.5 to start taking their RMD’s or do they start the year after the owner’s death? Thanks
If a person who dies at age 50 and owns a TIRA, can the non-spouse inherited TIRA beneficiares wait until the owner age would have been 70.5 to start taking their RMD’s or do they start the year after the owner’s death? Thanks
Permalink Submitted by Alan - IRA critic on Mon, 2013-02-18 22:24
They have to start the year after the owner’s death OR they could use the 5 year rule under which there are no RMDs each year but the account must be totally drained by the end of the 5th year following year of death.