Inherited IRA non-spouse owner dies before 10 years
Son inherits IRA from mother who passed in 2020. Son passed away recently, 2 brothers are beneficiaries. Does the 10-year rule for the brothers start anew or does it revert to the 10-year window established when the mother passed?
Permalink Submitted by Alan - IRA critic on Tue, 2024-10-22 11:26
Since the son inherited under the 10 year rule of the Secure Act, the successor beneficiaries will have to continue the son’s RMD schedule and still drain the inherited IRA by 2030. They do not receive a new 10 year period.
Also, because the IRS waived the 2024 beneficiary RMDs for the son, there is no year of death RMD for the successor beneficiaries to deal with.
This assumes that the son was not an EDB due to disability or being chronically ill.