Permalink Submitted by Alan - IRA critic on Fri, 2022-04-22 02:06
The RMD would be either the 5 year rule if owner passed prior to RBD, or the remaining LE of the owner if owner passed on or after the RBD. But this is largely a moot point since the charity will typically be paid in a lump sum as soon as the proper papers and death certificate are filed with the IRA custodian. And if a charity is the beneficiary of only a % of the IRA, it is still normally paid off right away so it is no longer a beneficiary on the key beneficiary determination date of 9/30 of the year following IRA owner’s death.
Permalink Submitted by Alan - IRA critic on Fri, 2022-04-22 02:06
The RMD would be either the 5 year rule if owner passed prior to RBD, or the remaining LE of the owner if owner passed on or after the RBD. But this is largely a moot point since the charity will typically be paid in a lump sum as soon as the proper papers and death certificate are filed with the IRA custodian. And if a charity is the beneficiary of only a % of the IRA, it is still normally paid off right away so it is no longer a beneficiary on the key beneficiary determination date of 9/30 of the year following IRA owner’s death.