Question

IRA distribution of decedent

Forum|Forum|2 years ago
March 30, 2024
1 reply
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As the executor of an estate of a decedent who passed 2022, an IRA was not distributed to one of the beneficiaries by 12/31/2023. Who is responsible to complete form 5329, the estate or beneficiary? And who is responsible for the RMD?

D

DianeW777

It's the responsibility of the beneficiary. Beneficiaries of the retirement plan and IRA accounts after the death of the account owner are subject to required minimum distribution (RMD) rules (includes the penalty for failure to take RMD). A beneficiary is generally any person or entity the account owner chooses to receive the benefits of a retirement account or an IRA after they die.