RMDs | Ed Slott and Company, LLC


If a person age 80 dies in 2018 without taking his RMD from his IRA for 2018 and there was a 12/31/17 balance in the IRA, must
an RMD be taken from his IRA for 2018?

Yes, the beneficiaries must collectively complete the year of death RMD to the extent the decedent did not complete it. It will be taxable to the beneficiary(s) that receive it. If not completed by the end of 2018, a Form 5329 will have to be filed to request a penalty waiver from the IRS. The IRS routinely grants the waiver if the year of death RMD is distributed within a reasonable time.

If 4 beneficiaries and RMD of 8400, If one beneficiary cashes out at 20,000, do other beneficiaries have to take any RMD?

Not to complete the year of death RMD since the cash out beneficiary satisfied that requirement for all the beneficiaries. Of course, the other beneficiaries need to be sure that the cash out beneficiary went through with the distribution.

Thank you.


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