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Old 09-14-2015, 05:59 PM
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RMD in Year of Death: Let It Happen to Decedent's Account?

Hi,

My mother died earlier this year at age 86. Before her death, she had not received any of her 2015 Required Minimum Distribution (RMD). Can her savings account still receive her RMD for this year? Her marginal tax rate is lower than mine.

I have read rules about 401k plans, rules about the year after death, and a general rule that says that anything not paid to the decedent must be paid to the surviving beneficiaries.

If I don't notify the investment company holding the IRA, the RMD will come out automatically, Mom will be issued a 1099, and I would report the income on her taxes.

I know that starting next year, the RMD will be based on my age.

Thanks for taking the time to read and answer my question.



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