Pre-SECURE: spouse originally taking as bene and then converting to their own name (spousal assumption)
I cannot remember – was this provided for in a CFR? Maybe in the Q&A section of one of them?
Or was this strategy extrapolated from the fact that the IRC never put a time limit on when a spousal beneficiary could elect to do spousal assumption?
Permalink Submitted by Alan - IRA critic on Fri, 2021-04-30 17:44
Yes, QA 5 in the following. 26 CFR § 1.408-8 – Distribution requirements for individual retirement plans. | CFR | US Law | LII / Legal Information Institute (cornell.edu)
This Reg has not been affected by Secure, and there has never been a time limit to assume the inherited IRA, or for that matter to assume it by default due to missing a beneficiary RMD.