First the account should be changed to a benificuary account in your fathers name with you as benificuary.
Assuming the RMD was
not
taken in 2015.You should take the RMD distribution in 2016 as a beneficiary from the beneficiary account ASAP, you will receive a 1099-R next year that should be in your fathers name with you as beneficiary. It should have a code "4"in box 7. This will go on your 2016 tax return next year.
Future RMD distributions shoukd be based on *your* single life expectancy as explained in IRS Pub 590B:
https://www.irs.gov/publications/p590b/ch01.html#en_US_2015_publink1000230753As far as the missed RMD, you can file a 5329 requesting a wavier of the penalty due to death. Mail the 5329 separate from your tax return since it is dealing with an inherited IRA in your father name - I would write both your SSN and your fathers on the form and/or include that information in the explanation statement.
Download the 5329 form from the IRS website. Print and mail your return with the 5329 form and explanation attached as described in the 5329 instructions.
From 5329 instructions:
Waiver of tax. The IRS can waive part or all of this tax if you can show that any shortfall in the amount of distributions was due to reasonable error and you are taking reasonable steps to remedy the shortfall. If you believe you qualify for this relief, attach a statement of explanation and file Form 5329 as follows.
1. Complete lines 52 and 53 as instructed.
2. Enter “RC” and the amount you want waived in parentheses on the dotted line next to line 54. Subtract this amount from the total shortfall you figured without regard to the waiver, and enter the result on line 54.
3. Complete line 55 as instructed. You must pay any tax due that is reported on line 55.
The IRS will review the information you provide and decide whether to grant your request for a waiver.
http://www.irs.gov/pub/irs-pdf/f5329.pdfhttp://www.irs.gov/pub/irs-pdf/i5329.pdf
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**