2021 RMD Inquiry
Hello, if a client passed away on 12/30/2020 (81 years old). Because the client passed in 2020, Can we confirm if they have to take 2021 RMD? The account had a 12/31/2020 and has not been divided up to the beneficiaries yet. Thank you.
Permalink Submitted by Alan - IRA critic on Fri, 2021-01-15 01:10
The 2021 RMD will be beneficiary RMDs for eligible designated beneficiaries (EDBs). Non eligible individual beneficiaries fall under the 10 year rule and will have no 2021-2029 RMDs but will have to drain their accounts by 12/31/2030. Sounds like there are no spousal beneficiaries here. There is no year of death RMD to be concerned with because all 2020 RMDs were waived.