RMD
Uncle died 4/14/2020 at 71.
Niece is bene
She opened Inherited IRA 5/2020.
Not sure if 2019 RMD was taken
Not sure if any RMS was taken for 2020
1. Can I move the IRA over to me. I know there is a limit on moving funds
2. She is on the 10 year payout plan, correct?
Permalink Submitted by Alan - IRA critic on Thu, 2021-07-22 20:22
A beneficiary is not responsible for the decedent’s RMDs except for the year of death, but there were no RMDs due in 2020 due to the CARES Act. Her beneficiary IRA can be transferred to a new custodian by direct transfer, but a non spouse beneficiary cannot do a 60 day rollover. Most likely she is subject to the 10 year rule with no annual RMDs required, but account must be drained by 12/31/2030. However, if she is NOT more than 10 years younger than decedent or is disabled, she is still eligible for the stretch rather than the 10 year rule, since either of those situations would make her an eligible designated beneficiary.
Permalink Submitted by Geoffrey Kasher on Thu, 2021-07-22 20:24
You ARE the best thanks