non-bene Roth RMDs
Non- spouse bene ( son ) inherited Roth IRA from dad. date of death was 10-24-2020. sons’s d/b is 12/03/87. haven’t taken any RMDs since inheritance occurred. can you let me know retro RMDs needed and 2023 Rmd, as well as which table to use moving forward.
thank you
Permalink Submitted by Alan - IRA critic on Mon, 2023-03-20 16:15
All Roth owners are treated as passing prior to RBD, therefore the son falls under the 10 year rule with NO annual beneficiary RMDs required. Therefore, the son could let the Roth accumulate to 2030, and then drain the account tax free. If he wants to take distributions before then, he should at least wait until 5 years has passed since the year of Dad’s first Roth contribution so that the Roth will be qualified and Form 8606 will not be required to report the distribution. It might take some work to document that Dad contributed prior to 2019, which would mean that the Roth is now qualified.