Death prior to Required Beginning Date RMD required
Client was born August 1945. Died February 2017. By my calculation, the required beginning date is 4/1/17. Client took a distribution in January 2017, which satisfied his 2016 RMD. Spouse, age 63, is the sole beneficiary on the IRA account. I Am I correct that she is not required to take an RMD since the owner died prior to the required beginning date?
Thank you
Permalink Submitted by Alan - IRA critic on Fri, 2017-04-28 17:44
Yes, you are correct. The surviving spouse can and should roll the inherited IRA over to her own IRA and the entire balance can be rolled over because there is no 2017 year of death RMD required. The 2016 RMD could also have been avoided if client had not distributed it, but once he did it was an RMD and therefore even if 60 days had not elapsed since the distribution, neither he nor his surviving spouse could have rolled it back.