non-spouse inherits two accounts
I think we may have incorrectly transferred two beneficiary IRAs.
Non-spouse inherited an IRA from his uncle (sole-beneficiary). Uncle passed 2018 and the 2018 RMD has been satisfied
same non-spouse inherited another IRA (two beneficiaries of this account). same uncle
We transferred both into one bene IRA, because the 2nd account had two beneficiaries on it, should that one have been transferred into a 2nd bene IRA?
Permalink Submitted by Alan - IRA critic on Wed, 2018-12-19 18:41
Combining them is allowed if they were inherited from the same original IRA owner decedent. Under the separate account rules, if separate inherited IRAs are established by the end of the year following year of death, each beneficiary can use their own life expectancy for RMDs. Separate accounts were created by this deadline. Therefore, the RMD divisor is the same as if the beneficiary was a sole beneficiary of the second account as well. Both requirements are met, the RMD divisors for the inherited acccounts are the same and both were inherited from the same original owner decedent. The only pitfall here would be if the uncle himself was a beneficiary of one of the accounts and owned the other because in that situation the RMD divisors would be different.