Husband deceased in 2010. He will be 70-1/2 next month but his IRA holdings have just now been transferred to his wife. She is 65. He got a notice from the bank that he will be responsibible to take an RMD. Seeing that his wife now has the funds in her name, would the RMD be adjusted to the wife's age?
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Sounds like the bank doesn't realized he is deceased. Since he died in 2010, he must have been only 68 or 69 when he died.
If the wife transferred all the IRA assets into her own existing IRA, or one she set up, she can delay taking distributions until she turns 70½. However, if she transferred his IRA assets into an "Inherited IRA" account, she must start taking an RMD this year ... the year he would have turned 70½.Roland Slugg
"I do what I can."
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