Inherited IRA RMD

A client has an IRA. He was born 10/12/1954 and died 10/8/2016 (Age 62). The beneficiary of the IRA is his brother. The brother transfers the IRA into his name as an Inherited IRA.

What are the Inherited IRA RMD rules?



The brother should have started annual RMDs in 2017 and each year thereafter. If he didn’t he needs to make up the missed RMDs and file Form 5329 to request waiver of the penalty for being late. The IRS usually grants the waiver.



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