Inherited IRA RMD
When do we have to take an RMD for an inherited IRA, under the new Secure Act?
Does the beneficiary qualify as an eligible designated beneficiary, and qualify for the stretch IRA? Or will he have to follow the 10-year rule?
IRA owner passed before RBD (DOB: 10/26/1961, DOD: 8/12/2022)
Beneficiary’s DOB is 8/13/1958
Permalink Submitted by Alan - IRA critic on Wed, 2022-11-30 21:03
Since the beneficiary is not more than 10 years younger which includes those older than the decedent, they are an EDB, eligible for the life expectancy stretch. Assuming that the beneficiary is not the spouse, the first LE RMD is due by 12/31/2023 based on age 65 in the single life table. The 10 year rule does not apply to EDBs.