IRA RMD (after owner’s death)
T-IRA owner died on 8/13/22
However his POA submitted a request for 2022 RMD the day before his death (8/12)
RMD was processed on 8/15 (after owner’s death)
POA wants to “cancel” the RMD and roll the assets (back) into the now deceased’s owners IRA owners. I am aware RMDs can’tb e rolled over. However, I wanted to see if there is any rule that I may be overlooking due to the RMD timing (it was processed after the owner’s death). Technically, shouldn’t the named beneficiary be responsible for the (owner’s) 2022 RMD?
Thank you
Permalink Submitted by Alan - IRA critic on Tue, 2022-08-30 15:55
If the executor and designated beneficiary can agree, the check could be returned along with the death cert and beneficiary info with a request to void the check and re issue to the beneficiary, who is legally entitled to receive the balance of the IRA post death. The 1099R would be issued to the beneficiary. However, if the estate were the beneficiary, this could be handled with the nominee process where the decedent’s final return backs out the distribution and makes a note that it belonged to the estate and will be reported on the 1041.