Bene IRA Question
Client established ‘Bene IRA’ in late 2019 …
Is the client subject to taking a yearly distribution (RMD) ? Or is the 10 year rule in effect for the total distribution of assets
Thanks –
Gregg Guiol
Client established ‘Bene IRA’ in late 2019 …
Is the client subject to taking a yearly distribution (RMD) ? Or is the 10 year rule in effect for the total distribution of assets
Thanks –
Gregg Guiol
Permalink Submitted by Alan - IRA critic on Fri, 2021-12-24 18:40
Since the death was pre Secure, the 10 year rule will not apply. Client would ordinarily take life expectancy RMDs starting in 2021, but was also required to complete decedent’s 2019 RMD if decedent was subject to RMDs that they did not complete. All RMDs were waived for 2020.