Taking RMD from Beneficiary IRA
I currently have two traditional IRAs, one managed by me and one managed by a professional money manager. In order to simplify the interface with my money manager, I take all of my RMD for both IRAs from the IRA which I manage.
If my daughter inherits these two IRAs from me and title both IRAs exactly the same (e.g., Sandra Jackson, beneficiary of Fred Jackson, IRA (deceased June 19, 2005)), can she do what I was doing and take all of the RMD from the IRA which she manages, i.e., no RMD withdrawals from the IRA professionally managed for her.
Permalink Submitted by Alan - IRA critic on Mon, 2015-03-09 04:01
Yes, she can. And they do not have to be titled exactly the same because IRA custodians may differ somewhat according to their processing platform. The only requirement is that the IRA show both the names of the decedent and the beneficiary and which is which. Finally, she can only aggregate the RMDs if she uses her life expectancy for both RMDs instead of the 5 year rule for one and life expectancy for the other.