If you inherit IRA assets from someone other than your spouse, you generally have two options from which to choose: direct transfer of the IRA to a special type of IRA called an inherited IRA, or take cash distributions as taxable income. If you receive a check, the money will be taxed as ordinary income, and is ineligible to be deposited into an inherited IRA you may own at another firm. Also, once you take a check it cannot be deposited back into the inherited IRA that it was withdrawn from to begin with.
It doesn't sound like you chose direct transfer to an inherited IRA. Those assets must be transfered directly from one account to another or from one IRA custodian to another. There is no option for a 60-day rollover when inheriting IRA assets.
Generally, the deadline for beginning RMDs from an Inherited IRA is December 31 of the year following the original owner's death. The RMD amount is distributed to you as beneficiary in the year of death and must be based on the original owner's RMD schedule but is distributed under your tax ID number.
