Inherited Pension

[Tracy Lee]

TP is 35 years old and got a 1099R code 4.  He inherited the remaining balance of his fathers pension.  He kept the money and did not put it anywhere.  Is this subject to the 10% penalty?  He was clear that this was not an IRA of any kind.

[Slippery Pencil]

Code 4 isn't subject to the 10% penalty.