Mom died April of 17 well past age of RMD. Left two IRA’s (about 160K or so, probably worth less now) to be split 6 ways between kids and grands. I think there was one for my dad as well but am not sure. I am one of beneficiaries and the executor of both her and my dad’s estates. He was the admin of hers and never settled hers. Lucky me. Nobody trains you for this job.

For whatever reasons, at least the first two were never claimed. No idea of the status of the other but I have not come across any 1099’s while doing the taxes my dad left undone since 2016 (face palm). The custodian apparently put them into our names, but paperwork was never filled out and distribution never received. I received a 5498 in the mail dated 5/19 showing my share of ONE of the accounts.

As executor, I called and asked for whatever paperwork needs sending to be sent, but have been put off. It is my understanding that this has not yet been sent to the state but is considered “frozen”.

I do not have an attorney, but have been reading and it looks like we are all in a bit of trouble. Nobody really advises the average Joe of the ramifications of all this.

I understand we have until December of this year to claim the entire amount, and are likely to be subject to all kinds of penalties etc.

It looks to me like my best option is to roll it over to charity, but I don’t think the other beneficiaries are going to be happy about any of this.

Any suggestions/advice/options/ other ramifications I’m not aware of? For a few of us, amending our taxes is not an option. My 22-yr-old niece was probably counting on this money and it’s not looking good for her. The rest of us I’m not as worried about.

Thank you in advance.