MarZDoates
Oct 26 2005, 09:09 AM
IRA owner already begins taking RMDs. Designated beneficiary is spouse (7 years younger). IRA owner dies in 2005.
Is it correct that the remaining RMDs will be calculated using the spouse's life expectancy and the Uniform Lifetime Table?
Thank you!!
Bird
Oct 26 2005, 12:16 PM
The surviving spouse may elect to treat the IRA as his or her own, in fact it is deemed to occur (the election) in certain circumstances. So distributions may stop, or will be calculated using the Uniform Lifetime Table as long as the spouse has a designated bene.
Reg § 1.408-8.Q-5
Appleby
Oct 27 2005, 02:16 AM
Don’t forget to check to see if the decedent satisfied the RMD for 2005. If not, then the surviving spouse must distribute that amount, which is calculated as if the IRA owner is still alive.
High level summary of options
1)Spouse treats as own, do not have to begin distributions until he/she reaches age 70 ½. If already 70 ½, needs to begin distributions the year after death of the owner. Under this option, when he/she begins RMD, the RMD amount is calculated using the uniform table, unless the surviving spouse remarries someone who is more than 10 years his/her junior and is therefore eligible to use the joint tables.
2)Spouse does not treat as own, and distributes amounts over his/her life expectancy-recalculated