Question: Robin began taking required minimum distributions from her profit sharing plan several years ago. Robin died after suffering a heart attack on January 2 nd

Robin began taking required minimum distributions from her profit sharing plan several years ago. Robin died after suffering a heart attack on January 2nd this year. She had named her twin sister Johanna as beneficiary of her profit sharing plan. Which of the following statements is false?
A.Johanna may take a full distribution of the profit sharing plans assets in the year of Robin's death.
B.After Johanna's death, her named beneficiary will need to distribute the balance of the account within 10 years of Johanna's death.
C.Robins sister must take a distribution of the profit sharing plan account balance by the end of the fifth year after the year of her death.
D.The required minimum distribution can be taken over Johanna's life, the year following Robin's death.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!