RMD for deceased taxpayer

According to scott s. <75270 snipped-for-privacy@csi.xcom:

The IRS says

For the year of the account owner's death, use the RMD the account owner would have received. For the year following the owner's death, the RMD will depend on the identity of the designated beneficiary.

If the IRA custodian doesn't know he's dead and you have no way to tell them before the end of the year, I suppose you could pretend to be him and just take the RMD and put it in the estate's account. It's not like you would be defrauding anyone.

Also, this must happen all the time. Perhaps you could call the custodian and ask how they deal with this.

The beneficiaries are required to take the decedents RMD no later than

The IRA trustee does require proof of death before the distribution to the beneficiaries can be made. If it looks like the Health Dept. certificate will not be received in time to get the distribution, I advise you to have the funeral director print a copy of their electronic submission and sign it. You could then use that to have the trustee make the distributions to the beneficiaries before year-end.

Tempuser snipped-for-privacy@vacationmail.com wrote in news:tkbjp4$173l$ snipped-for-privacy@gioia.aioe.org:

Thanks to you and John Levine

I did find while searching a statement that IRS will waive penalty for late RMD in year of death if RMD is taken by filing date with extensions so it sounds like I don't absolutely have to get it resolved by 12-31.

If the beneficiaries take the 2022 RMD after December 31 it will be taxable in 2023, not in 2022. It will be included in each beneficiary's 2023 Form 1099-R, together with the 2023 RMD that they take. So they will paying tax on two years' RMDs in one year.

Bob Sandler