RMD from an Inherited IRA
Married client passes at age 74. Proceeds of his IRA are passed on to his son, What table do we use? Do we use the father’s age of the son’s age?
Married client passes at age 74. Proceeds of his IRA are passed on to his son, What table do we use? Do we use the father’s age of the son’s age?
Permalink Submitted by Alan - IRA critic on Thu, 2022-09-08 22:50
Unless the son is disabled, the 10 year rule per the Secure Act applies. Proposed Secure Act Regs indicate that the son will have to take annual life expectancy RMDs in years 1-9, but it is not yet clear that this provision will become final. If required, the son’s age in the year following the year of death determines the Table I divisor. Son is also responsible for completing father’s year of death RMD by the end of that year if father did not complete that RMD.