Inherited IRA by a non-spouse
If a 90 year old individual who was taking RMD dies, can a non-spouse (niece) beneficiary wait as long at the 10th year after decedent’s death to withdraw all funds form the inherited IRA? (SECURE ACT)
Or does the non-spouse (niece) beneficiary have to start an annual RMD of her own the year after death since the decedent was taking RMDs?
Permalink Submitted by Alan - IRA critic on Mon, 2023-03-20 16:18
The latter. However the IRS has waived the penalty for any missed 2021 and 2022 beneficiary RMDs because their Regs have not yet been finalized. But the 2023 beneficiary RMD is expected to become due this year.