Deceased missed many RMDs, are beneficiaries required to do anything?
I’m inheriting an IRA from someone who died in 2017. I will take their RMD for this year.
It appears they may have not taken RMDs for multiple previous years – do I have an obligation to research this and satisfy the RMDs in some way?
Permalink Submitted by Alan - IRA critic on Tue, 2017-11-21 18:01
No, you do not. IRS Reg 1.401(a)(9)-5 Q 4 indicates that beneficiaries are responsible for completing the year of death RMD. There is nothing stated about prior year’s RMD shortfalls. Further, the IRS has not been going after the decedent’s estate for RMD shortfall penalties.