Inherited IRA from a Spouse
Client’s wife died in 2017. Client kept her IRA as and Inherited IRA. He was born in 1943; deceased wife was born in 1950. He believes he can wait to take RMD from the inherited until the wife WOULD HAVE been 72. I believe it would need to begin at 70.5 since she died before the SECURE Act. Can someone confirm?
Permalink Submitted by Alan - IRA critic on Wed, 2021-01-27 17:38
Since his wife would have reached 70.5 after 2019 (post Secure), Sec 114 of the Secure Act substitutes age 72 for 70.5 as the year RMDs must begin for a sole surviving spouse beneficiary. Therefore, client is correct and does not have to take a beneficiary RMD until 2022. Sometime in 2022 he should assume ownership of the inherited IRA as that will change his 2022 RMD to the Uniform Table using his age. That RMD would still be considerably lower than if he continued with the inherited IRA and used Table I.