Wife dies prior required beginning date. RMD’s required?
Wife born Dec. 1944. Died Jan 2015. Required beginning date is April 1, 2016.
Husband is sole beneficiary of the account.
My understanding is that no RMD is reqired from her account because she died prior to her required beginning date. Also, if rolled over to husbands IRA there is no on this rollover amount since his RMD is based on the December 31,2014 balance in his IRA account. Thus the amount from the wife’s IRA avoids any RMD is 2015. Correct?
Permalink Submitted by Alan - IRA critic on Thu, 2015-03-05 23:36
Yes, correct. Husband is apparently already 70.5. Husband will have a 2016 RMD on these funds of the same amount whether he rolls it over this year or next year, and a higher RMD if he maintains it as beneficiary instead of owner. Therefore, he should roll the IRA over to his own IRA now since there is no advantage in maintaining it as inherited. Again, an assuming he has already reached 70.5.