Roll over IRA
I am taking RMD when I pass away if I have my son as subsequent beneficiary he changes account to inherited IRA does not take distribution for 9 years and disclaims if I have names my grandson to subsequent beneficiary will he become owner of his inherited IRA? What are rules for withdrawal in one more year or add another 10 year?
Permalink Submitted by Alan - IRA critic on Mon, 2024-02-05 15:46
Your son would have to take annual RMDs in year 1-9 and empty the inherited IRA by the end of year 10, but if he files a qualified disclaimer within 9 months of your date of death before taking any distributions other than completing your year of death RMD, the inherited IRA will instead go to the contingent beneficiaries that you named. They will be subject to the same RMD requirements (same 10 year rule) that your son would have been unless they are disabled on your date of death.