Is an RMD required
Trying to determine if an RMD is required in this situation. Husband turns 70 in mid-January, so will turn 70.5 in July & be subject to an RMD. However, he dies in mid-February. His wife, who is 65, is the beneficiary.
If she rolls his IRA funds into her own IRA, must there first be an RMD taken from the $ in his IRA?
Permalink Submitted by Jose Morales on Thu, 2015-05-28 16:40
Because death occurred before the required beginning date, April 1st of the year following the year in which the age of 70.5 is attained, there is no RMD required.
Permalink Submitted by Gregg Lynch on Thu, 2015-05-28 17:31
Thank you; that’s the way I read things too, just wanted the thoughts of another.
Permalink Submitted by Jose Morales on Thu, 2015-05-28 20:29
You are welcome. You can find this information on page 6 of Publication 590 B: http://www.irs.gov/pub/irs-pdf/p590b.pdf