RMD after Mid-year death
Husband sets up to have monthly withdrawals to satisfy 2021 RMD for traditional IRA. He dies mid-year. Elderly spouse will assume the account. Can spouse (1) continue the monthly arrangement for the remainder of 2021 or (2) must the balance of his RMD be taken immediately?
Permalink Submitted by Alan - IRA critic on Fri, 2021-07-16 01:08
No reason the surviving spouse could not continue the monthly distributions. The total 1099R reported distribution for the decedent plus those made to the surviving spouse reported on her 1099R must at least total to the decedent’s 2021 RMD. The surviving spouse has until year end to complete decedent’s 2021 RMD. It does not matter how or when the distributions are taken as long as that RMD is completed by year end. It also does not matter whether she completes it as the beneficiary or if she assumes ownership and completes it from her own IRA.