My wife is one of four equal beneficiaries of the Estate of her late aunt, who died in 2010. Her aunt left an IRA without designated beneficiaries. The Estate became the "interim" beneficiary of the IRA while the IRS was asked to determine (as a result of a private letter
ruling request made in early 2011) if my wife (and the other 3 benes) could be the beneficiaries of the IRA. The Estate attorney [EA] said that no required minimum required distributions [RMDs] should be taken until the determination was made, lest the determination be jeopardized. The determination was made in early 2013, immediately after which the Estate took the 2011, 2012, and 2013 RMDs. The balance of the Estate IRA was then distributed in equal parts to the 4 beneficiaries (into inherited IRA accounts).
1. Which years require filing for waivers of the 50% IRS penalty for late RMDs?
(The EA thinks that only 2011 requires this, as he says the Estate fiscal year -that ends on October 31st- somehow gives him a pass on having to file a waiver for the 2012 RMD.)
2. Who files the waiver, the Estate or the 4 subsequent beneficiaries? (The EA claims the Estate must file any waiver(s) but the taxes
must be paid directly by the beneficiaries.)
3. Must each of the 4 beneficiaries take their own 2013 RMDs form their newly inherited IRAs (that's in addition to the 2013 RMD taken by the Estate earlier this year)?
Thank you in advance for a response that is legally responsible. (I have always stuck to the letter of the law
and don't want to get into trouble with this late RMD/waiver business.)