Re-title spouse inherited IRA account

I have an inherited IRA account from my husband. He died 8 years ago at age 62. He never took any distributions. The assets of his IRA were transferred to an inherited IRA account titled as my name inherited IRA beneficiary of his name. I was the sole beneficiary of his IRA. I named my son as beneficiary of this inherited IRA. I have never made any withdrawals from this account. This is the year he would have turned age 70.5 and I understand I am now required to begin taking RMDs. I am now age 67 and not retired. My question is, since I am a spouse sole beneficiary, can the account be re-titled at this time to make me the owner instead of beneficiary and therefore not have to take distributions yet? Or can that initial election to open an inherited account as a beneficiary not be changed? If it can be changed to my name, does that create a taxable event for me? Also I have another IRA account that was my own IRA and I have never withdrawn funds from that account either.



You can treat it as your own IRA and not take distributions until you turn 70.5. 

Although as sole spousal beneficiary you will become the owner by default if you do not take an RMD required as beneficiary, It would be best to roll it over to your own IRA account and name your son as designated beneficiary. Having the IRA titled as your own IRA will be more transparent and avoid questions that might arise from lack of knowledge of the various default rules.

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