erroneous RMD
Advisor mistakenly distributed the RMD twice from a client’s pre secure inherited IRA about 1 week ago and both RMDS were sent within 1 week of each other. For both RMDS, taxes were withheld.
How does this get corrected and get one RMD (plus taxes withheld) back into the inherited IRA?
Permalink Submitted by Alan - IRA critic on Wed, 2021-01-27 22:05
It doesn’t since a non spouse inherited IRA distribution can never be rolled over, notwithstanding the special CARES Act provisions which expired on 8/31. The IRA custodian might have some non publicized authority to correct errors entirely of their own making, but an advisor error does not fall into that category.