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They can treat the inherited IRA as their own, or take distributions based on their life expectancy. These new rules do not apply to accounts inherited before 2020, or to Roth IRAs. This story was ...
Inherited traditional and Roth IRA rules require the beneficiary to begin taking distributions by the end of the year following the original account holder’s death. Failing to do so can result ...
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
A nonspouse IRA beneficiary must either begin distributions by the end of the year following the decedent's death (they can elect a "stretch" payout if they do this) or, if the decedent died before April 1 of the year after he/she would have been 72, [a] the beneficiary can follow the "5-year rule". The suspension of the RMD requirements for ...
New rules are expected this year on inherited IRA withdrawal. The era of the stretch IRA Before 2020, beneficiaries could benefit from what was known as the “stretch IRA” provision.
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 ...