Question about customs/immigration procedure in Germany

I'll be flying to Munich this Monday from the States, but my first stop in Germany is for a transfer in Frankfurt. Flight route is IAD-FRA-MUC.

I only have about an hour in Frankfurt. Does Germany require arriving passengers to retrieve their checked bags, clear customs and immigration, recheck their bags, and then recreate security (like in the US), or will all those procedures be completed in Munich?

Thanks!