RMD for Inherited Beneficiares.
Client died this year. Had not taken her RMD yet. Do her beneficaires (non-spouse) need to satisfy the RMD amount for 2017?
Client died this year. Had not taken her RMD yet. Do her beneficaires (non-spouse) need to satisfy the RMD amount for 2017?
Permalink Submitted by star pollack on Fri, 2017-03-31 23:02
I read that this must be done by the beneficiaries.
Permalink Submitted by Alan - IRA critic on Fri, 2017-03-31 23:26
Yes, if client had not completed her 2017 RMD prior to her death, the beneficiaries need to distribute that amount by 12/31/2017. If more than one beneficiary, the year of death RMD can be taken in any combination between those beneficiaries, but they do not want to take proportionate shares they should establish separate inherited IRA accounts and then agree how they will complete the 2017 RMD.