SECURE ACT Question
Hello,
I have a client who has an IRA BDA that passed away on 4/11/2020 however the original depositor passed away in 2008. Since my client passed away this year, does the beneficiary of this account have the option to use the 10 year rule?
Thank you.
Permalink Submitted by Alan - IRA critic on Wed, 2020-04-22 14:04
Yes, the 10 year rule applies to beneficiary of client under the Secure Act. Of course, that might be a longer or shorter period of time that would have applied to the beneficiary under the former rules that would have required beneficiary to complete the RMD schedule of the client.