DEATH AND RMD
A client who is in RMD died prior to taking 2010 distribution, spouse is beneficiary. Does the distribution need to be taken from deceased spouse’s IRA account prior to moving to spouses IRA. Spouse passes away without taking RMD and does not transfer into her account. Will default be estate of the second to die and beneficiaries do they have any choice of payout.
Permalink Submitted by Alan Spross on Mon, 2010-11-08 20:59
It should be, but if the rollover is done first the solution is to treat the amount of the decedent’s RMD as an excess contribution and have the RMD amount along with any allocated earnings withdrawn from the survivor’s IRA.