Spouse 10yrs or more younger

Submitted by Wendy Mommaerts on Mon, 2018-02-19 20:40

Can you confirm what table we are to use for IRA owners who have their spouse as sole beneficiary:

Owner 5/30/1938 Spouse 5/17/1950 —-Table II
Owner 5/22/1944 Spouse 10/1/1954 —–Uniform Table
Owner 10/14/1950 Spouse 11/19/1965 —Table II

What do we need to do if we didn’t catch this until now? Can you begin now?

Permalink Submitted by Alan - IRA critic on Mon, 2018-02-19 21:19

Yes, the tables you show are correct for those age examples. If table II has not been used for the first example, you can just start using it in 2018 going forward. If the 2017 RMD happens to have been distributed in late December, there is still some 60 day rollover time left to roll the excess of the correct RMD back to the IRA.
Example 2 – Uniform is correct, but if you used Table II based on the actual difference rather than the year end ages, then there is an RMD shortfall that needs to be made up for 2014 RMDs forward. Can’t amount to much of a shortfall.
Example 3 – RMDs not started yet. First year is 2021.