New Strech IRA
If a person died in 2019 and inherited person has to take the RMD by 12/31/2019 following the year of death but are they under the old rules or the new rules.
If a person died in 2019 and inherited person has to take the RMD by 12/31/2019 following the year of death but are they under the old rules or the new rules.
Permalink Submitted by Alan - IRA critic on Mon, 2020-02-10 21:06
The old rules. The decedent will not have a 2019 RMD unless they passed prior to their required beginning date. If decedent did not complete their 2019 RMD before passing and the beneficiary also did not complete it, the beneficiary will have to file Form 5329 to request the penalty waiver. The IRS will grant the waiver because the beneficiary often has no time to determine if the decedent completed his total RMD for all accounts or not.