RMD of Inherited IRA
Hello,
The owner of a Beneficiary IRA passed away without taking his Beneficiary RMD this year. Who is responsible for taking the IRA? Does the custodian need to issue a distribution on the deceased, or does the new beneficiary take the RMD?
Thank you,
Richard
Permalink Submitted by Alan Spross on Wed, 2011-06-29 19:04
The successor (new) beneficiary of the designated beneficiary must take the RMD due the original beneficiary if the original beneficiary passed without taking the RMD. It is paid and taxable to the beneficiary that actually receives the RMD.
Permalink Submitted by Harold Klein on Wed, 2011-06-29 19:32
Thank you, Alan!