RMD- definition of “Sole Beneficiary”
Dear Sir/Madam,
I have an IRA client who is 86 years old. His 65 year old wife is his sole PRIMARY beneficiary.
However, his two daughters are CONTINGENT beneficiaries (50% each).
I’m unclear as to whether he can use the joint and last survivor table to calculate his RMD. Does the fact that he has CONTINGENT beneficiaries force him to use the uniform life table?
Thank you,
Chris
Permalink Submitted by Alan - IRA critic on Fri, 2014-01-03 17:44
Chris, the contingents have no affect on the RMD, so his spouse is still considered a sole beneficiary and he can use the joint life and last survivor table (Table II) for his RMDs.