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For example, while most non-spouse beneficiaries must spend down the accounts in 10 years, they only have a required minimum distribution (RMD) each year if the decedent was past the RMD age.
What Is the 10-Year RMD Rule for an Inherited IRA? The 10-year RMD rule is a result of the Setting Every Community Up for Retirement Enhancement Act of 2019, also known as Secure 1.0.
The Secure Act changed the rules on inherited IRAs. Instead of being able to stretch out the withdrawals across your lifespan, you now only get 10 years on newly inherited IRAs to deplete the account.
Under the new guidelines, these beneficiaries were now subject to a 10-year rule that stipulated that the entire balance of an inherited IRA had to be withdrawn within 10 years following the ...
Under the terms of the SECURE Act, those who inherit an IRA annuity have to withdraw all of the money in it within 10 years following the death of the original owner. Failing to withdraw the ...
The 10-Year Rule for Inherited IRAs. The IRS changed its rules for inherited IRAs in 2019. Before then, you’d have to withdraw all of the money from an IRA you inherit within five years ...