Secure Act 10 year rulefor inherited IRA’s
Will the liquidation deadline for an inherited IRA be 10 years from the DATE OF DEATH or will it be DECEMBER 31st of the 10 year FOLLOWING the date of death?. i.e. Parent dies April 1st 2020. Is the deadine to liquidate the IRA April 1st 2030 OR December 31, 2030?
Steve
St Charles MO
Permalink Submitted by Alan - IRA critic on Wed, 2020-04-22 18:53
12/31/2030, the end of the 10th year following the year IRA is inherited. The beneficiary actually has 11 tax years over which to spread distributions, 2020-2030, although there are no individual year RMDs required.