Election allowing spouse as beneficiary to use Uniform table
Can a surviving spouse elect to use the uniform table to calculate RMDs on an inherited IRA or does that rule only apply to inherited employer plans?
Thank you!
Can a surviving spouse elect to use the uniform table to calculate RMDs on an inherited IRA or does that rule only apply to inherited employer plans?
Thank you!
Permalink Submitted by Alan - IRA critic on Sat, 2024-12-21 11:41
It also applies to IRAs. Further, the election will be automatic if the deceased spouse passed prior to RBD according to the IRS proposed regs for Sec 327. If the deceased spouse passed after RBD, the beneficiary will probably have to make the election. Making this election does not mean that the SS cannot later assume full ownership of the inherited IRA and they should at some point depending on the ages of both spouses.
This election cannot be made if the beneficiary RMD was first due for a year prior to 2024. The proposed Regs do not otherwise appear to have a deadline for making the election.
Permalink Submitted by Sarah Murphy on Sun, 2024-12-22 08:51
Got it, thanks!