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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.
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.
Previously, if you inherited an IRA account, the annual required minimum distribution (RMD) was typically based on your life expectancy. But in 2020, the rules changed. Don't miss
Additionally, since you're older than the original owner, you won't be subject to the new 10-year rule, which requires a beneficiary to deplete an inherited IRA within 10 years of the original ...
The IRS has special rules regarding the RMD in the year of death that IRA and 401(k) beneficiaries need to be aware of. A financial advisor can help you through the ins and outs of planning for ...
The Secure 2.0 Act will change the rules regarding inherited IRAs. If you inherit an IRA from someone who passed away after Dec. 31, 2019, you may be subject to RMDs on that account — in ...
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beneficiaries were now subject to a 10-year rule that stipulated that the entire balance of an inherited IRA had to be withdrawn within 10 years following the ...
If you inherited an IRA from someone subject to RMDs after Dec. 31, 2019 and you're not a spouse, minor child, or less than 10 years younger than the original owner, you'll also be subject to RMDs.