beneficiary ira established for a spouse
Wife passed away in 2017 at age 45 with husband as beneficiary of her IRA. Beneficiary IRA was established with husband as owner to take the funds instead of the husband taking the account as his own. Should he have been taking RMD’s from the beneficiary IRA or can he wait until the wife would have reached 73?
Permalink Submitted by Alan - IRA critic on Fri, 2024-01-05 21:22
If he is the sole beneficiary, there is no RMD requirement until the year when the wife would have reached age 75. Therefore, he can retain the inherited IRA for many years without beneficiary RMDs, but will eventually want to assume ownership of the IRA at the correct time as dictated by his own age.