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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.
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.
5 Required Minimum Distribution (RMD) Rule Changes That Happened This Year ... The bad news is that you must deplete the entire account within 10 years of inheriting it. So if you inherited an IRA ...
Whether the original account owner had to take required minimum distributions ... only the 10-year rule as outlined above. ... more versed than others in the complex rules surrounding inherited IRAs.
The rules of inherited Roth IRAs and inherited traditional IRAs are similar, but also as nuanced as they are plentiful. ... Required Minimum Distributions. ... Follow the 10-year rule and empty ...
IRA and 401(k) plan owners are required to take minimum distributions from their accounts beginning in the year they turn 72. The IRS has special rules regarding the RMD in the year of death that ...
If you’ve inherited a Roth IRA as a non-spouse beneficiary, you must follow the same 10-year rule that applies to inherited traditional IRAs. RMDs and Inherited 401(k)s