@dmertz Great Response!
I have one additional question regarding keeping all the same parameters you described above (deceased not reaching distribution age, beneficiaries finding the account many years later so missed the 1year and 5year stipulations).
Option 1: move IRA to a beneficiary IRA and file a 5329 with letter of reasonable cause for the late RMD distributions
My question is, is there an option 2?
Option 2: Cash out the IRA and pay income taxes on the amount. Would I need to file the 5329 also in this instance?
