RMD for 2009
I understand for 2009, TIRA holders who had begun earlier to make RMDs will not have to do so. Is it true?
Additional question: Once a Roth IRA is completely vested, and it then is passed onto a beneficiary, is the beneficiary required to withdraw as per RMD?
Permalink Submitted by Al Fry on Thu, 2009-01-22 17:17
The RMD for the year 2009 does not have to be taken. By a “Vested” Roth, I assume you mean one that is five years old. If the bene is a non-spouse, RMDs must start by 12.31 in the year following death. If the bene is the spouse of deceased Roth owner, he/she can assume ownership, and there are no RMDs.
Permalink Submitted by Robert Wong on Thu, 2009-01-22 20:29
Thank you, Al, did Congress provide for RMD requirements subsequent to 2009? How about Roth RMD requirements for non-spousal beneficiary?
Permalink Submitted by Robert Wong on Thu, 2009-01-22 20:33
Sorry, Al, a senior moment during my last post. Though I read your whole post, I flat forgot you had already answered my posed-again question.
Permalink Submitted by Alan Spross on Thu, 2009-01-22 21:01
All 2009 distribution year RMDs have been suspended including those of non spouse Roth IRA beneficiaries.
For years beyond 2009, there has been some talk about further suspensions or even permanent changes, but all this is just talk at this point. IRA owners and beneficiaries should still plan for 2010 RMDs to be required at this point.
Permalink Submitted by Robert Wong on Fri, 2009-01-23 01:27
Thanks Alfry, and Alan-oniras, am grateful for the info