RMDs for Surviving Spouse in Future Years?
Joe, age 79, died in 2018 and had a Traditional IRA. He took his RMD for 2018 before he died.
His wife, Jane, is 61 and the sole primary beneficiary.
Although Jane will still be under 70½ in 2019, must she must continue taking RMDs? Under her life expectancy? From the Single Life Expectancy Table? Recalculated each year? From a “Beneficiary IRA”?
OR
Can she transfer and/or roll the assets from his IRA into her Traditional IRA and cease taking RMDs until she turns 70½?
Please advise. Thank you very much.
Permalink Submitted by Alan - IRA critic on Tue, 2018-05-01 18:23
Yes, Jane should roll over the inherited IRA to her own IRA, which she can do without any RMDs. Her own RMDs will not start until she is 70.5. If she does need money, because she is over 59.5 there will be no penalty for distributions she needs.