QCD
Son deceased before 70.5. Had no named beneficiary so it went to the estate. Estate opened inherited IRA for the Father who is over 70.5. Can Father use the QCD or is the rule based on the “named” beneficiary which was the estate that has no life?
Permalink Submitted by Alan - IRA critic on Thu, 2016-10-13 18:42
Q 37 in Notice 2007-7 indicates that a QCD can be done by a beneficiary from an IRA maintained for that beneficiary after the beneficiary reaches 70.5. Therefore, distributions to the estate that has no age would not be eligible for a QCD, but once the estate inherited IRA has been assigned to the beneficiaries of the estate, the IRA is maintained for a beneficiary with an age. The father should be able to request a QCD check, being over 70.5 irrespective of the fact that the distribution period for this IRA falls under the 5 year rule.