death of IRA owner with non-spousal beneficiaries

L1: death of IRA owner with non-spousal beneficiariesIs there a calculator for determining the RMD for a non-spousal IRA beneficiary, where the original owner was not at her RMD date?2007-02-20 08:32, By: lucky13, IP: [75.45.70.67]
L2: death of IRA owner with non-spousal beneficiariesThere is not a calculator for this on this site since this issue does not affect 72t plans. There is no penalty on inherited IRA accounts. However, a calculator is not needed, since the divisor comes directly from Table I in Pub 590. The beneficiary”s age in the year following death is used and the initial divisor is reduced by 1.0 in each year after the intial RMD year.
The non spouse beneficiary could also use the 5 year rule in this case, meaning no RMD but the entire account must be distributed no later than 12/31 of the 5th year following the year of the owner”s death.
2007-02-20 13:14, By: Alan S., IP: [24.116.66.98]

L2: death of IRA owner with non-spousal beneficiariesthank you for the quick reply2007-02-20 16:10, By: lucky 13, IP: [75.45.70.67]

L2: death of IRA owner with non-spousal beneficiariesIf the beneficiary starts to take a distribution based on his life expectancy, can he change it later to a lump sum or shorter time period?2007-02-21 11:38, By: lucky 13, IP: [75.45.70.67]

L2: death of IRA owner with non-spousal beneficiariesYes. The RMD is only a minimum requirement. There is no maximum in any year, so the beneficiary can take as much above the minimum as needed and/or fully distribute the account if he prefers.2007-02-21 15:09, By: Alan S., IP: [24.116.66.98]