Likewise here. Fidelity has it wrong.
Section 1.408-8(b)(1)(ii) of the IRS final RMD regs, issued last July, is very clear: "No minimum distributions are required to be made from a Roth IRA while the owner is alive. After the Roth IRA owner dies, the required minimum distribution rules apply to the Roth IRA as though the Roth IRA owner died before his or her required beginning date."
Consequently, because the owner is deemed to have died before the RBD, no RMDs are required.
There is nothing new about this. It was true before the final regs were issued. For example, the same rule is stated in Pub 590-B (2023) (most current version) on p. 35, and in previous versions.
Strangely, even though Fidelity is mistakenly telling Inherited Roth IRA customers that they have to take RMDs in calculated amounts, in Fidelity's general statement of the RMD rules they actually get it right:
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Section 1.408-8(b)(1)(ii) of the IRS final RMD regs, issued last July, is very clear: "No minimum distributions are required to be made from a Roth IRA while the owner is alive. After the Roth IRA owner dies, the required minimum distribution rules apply to the Roth IRA as though the Roth IRA owner died before his or her required beginning date."
Consequently, because the owner is deemed to have died before the RBD, no RMDs are required.
There is nothing new about this. It was true before the final regs were issued. For example, the same rule is stated in Pub 590-B (2023) (most current version) on p. 35, and in previous versions.
Strangely, even though Fidelity is mistakenly telling Inherited Roth IRA customers that they have to take RMDs in calculated amounts, in Fidelity's general statement of the RMD rules they actually get it right:
Statistics: Posted by elgob — Sat Jan 04, 2025 3:24 pm — Replies 3 — Views 126
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