Inherited IRA RMD where decedent and beneficiary are both under RMD age
Hello, what is the requirement on an inherited IRA where the decedent passed at age 54 (in 2014) and the beneficiary of the account was age 59 at time of inheritance and is now 68? Should the beneficiary be taking distributions? Thanks.
Permalink Submitted by Alan - IRA critic on Mon, 2023-10-09 18:57
Yes, the beneficiary should have been taking annual RMDs each year except 2020 since RMDs were waived in 2020. Alternately, the beneficiary could have opted into the 5 year rule with no annual RMDs but full distribution by the end of 2019.