RMD for year of death
IRA with 3 charitable beneficiaries. IRA owner died prior to taking his 2019 RMD. Are there any adverse income or death taxes consequences to the decedent or his estate if the 2019 RMD is not taken by or distributed to the beneficiaries by the end of this year?
Permalink Submitted by Alan - IRA critic on Mon, 2019-12-02 19:16
No consequence to the decedent since he passed prior to the date the RMD was due. The beneficiaries become responsible jointly and will have to file a 2019 5329 if the 2019 RMD is not distributed before year end, but the IRS will waive the penalty if the late RMD is distributed before filing the 5329. Any of the charities receiving their share would take care of the 2019 RMD.