Inherited IRA RMD + 60 day rollover
I apologize in advance if this question was already asked, but I am curious if the CARES Act addressed this. If someone took an RMD on 4/1/20 from their Inherited IRA, do they have 60 days to do a rollover? If so, can you please share exactly where this is addressed so that I can share it with my Operations Department? Thank you.
Permalink Submitted by Alan - IRA critic on Thu, 2020-04-16 18:07
The CARES Act does not change prior law. A distribution to a non spouse beneficiary is never eligible for rollover whether it was an actual RMD, or like this distribution was not an RMD. However, if the surviving spouse was the beneficiary of this IRA, in most cases they can do a 60 day rollover into their own IRA account.