Greetings: An inherited IRA was transferred into an account under my name today, Feb 8, 2024. I want to transfer it from the bank it is at now to another bank. I called the prospect new bank to tell them of my plans. Further, I told the new bank that once I got the money transferred to them, then I would take my RMD sometime later in 2024. However, the new bank said I need to take my 2024 RMD from the old bank account prior to transferring to the new bank, otherwise, they said, the IRS would penalize me for excessive distributions. Huh? I don't think the IRS cares which bank I take the RMD from as long as I take it sometime in 2024, correct ?
I'm going to call the new bank again and ask to speak to a supervisor, but I wanted to check with the "community" first. Thank you !
