rmd
If a person passed in 2020 age 78 was not required to take RMD, found out that the beneficiaries didn’t not move into an inherited IRA in 2021 and did not take an RMD. Will they be subject to the 50%? Thanks..
If a person passed in 2020 age 78 was not required to take RMD, found out that the beneficiaries didn’t not move into an inherited IRA in 2021 and did not take an RMD. Will they be subject to the 50%? Thanks..
Permalink Submitted by Alan - IRA critic on Fri, 2022-02-11 15:54
First, there was no 2020 year of death RMD since all 2020 RMDs were waived. In addition, most beneficiaries fall under the 10 year rule for which there are no annual RMDs, but the inherited IRAs must be drained by 12/31/2030. It is possible that one or more beneficiaries might be eligible for the life expectancy stretch (eg not more than 10 year younger than decedent, or disabled. If any of these then a 2021 RMD was due,