Spousal Inherited IRA RMD
I have a client whose date of birth was Jan 1951, therefore not required to start RMDs until 2023. He passed away in Feb 2022 and his wife assumed the IRA as her own. Her date of birth, 9/11/1950, so she is already 71 and will be 72 this year. She is required to take RMDs by April 1 of 2023 for her own IRAs, however is that still the case for the IRAs she assumed in 2022, even though she wasn’t the technical owner until Feb of 2022? Will she need to take RMDs this year or before April 1 next year on IRAs of her deceased husbands?
Permalink Submitted by David Mertz on Tue, 2022-07-19 17:23
Because the client had not yet reached his Required Beginning Date for RMDs when he died in 2022, there is no 2022 RMD for this IRA. Because she did not own the IRA prior to 2022, 2023 will be the first year his wife will need to take an RMD for this account, with a deadline for doing so of December 31, 2023 (assuming that there are no statutory changes enacted that change her RBD to a later year for all of her IRAs).