Bene inherited IRA
Husband had bene IRA from his MOM. he had for a number of years and passed at age 75. his wife took over the inherited IRA, is it still old rules? or must she distribute over 10 years? investment company is offering no guidance.
thanks
Permalink Submitted by Alan - IRA critic on Thu, 2023-07-13 14:43
His wife is a successor beneficiary to a pre Secure Act non spouse designated beneficiary. She is subject to the 10 year rule, but she is only required to continue husband’s annual RMD schedule in years 1-9 if his Mom passed after her RBD. She will have to determine Mom’s date of death in relation to 4/1 of the year following the year Mom reached 70.5. The wife’s age is irrelevant. Finally, if husband did not take his year of death RMD before passing, the wife is responsible for completing it.