RMDs in Years 1-9 for Inherited Roth IRA
If I am not one of the 5 eligible designated beneficiaries, am I required to take an RMD in years 1-9 from a Roth IRA I inherit based on my life expectancy?
OR, do I just have to withdraw all of the inherited Roth IRA assets by 12-31 of the 10th year following the year of death of the Roth IRA account owner, regardless of what type of beneficiary I am?
Basically, my question is: Are inherited Roth IRAs and inherited Traditional IRAs treated the same r.e. RMDs in years 1 through 9 after the death of the Roth IRA owner?
The 5 types of eligible designated beneficiaries being:
1. Spouse
2. Minor child of the deceased
3. Disabled
4. Chronically Ill
5. Beneficiary not more than 10 years younger than deceased
My father passed away in 2022. He was 80 when he died.
I turned 55 years old in 2022.
I inherited my father’s Roth IRA in 2022 when he died.
My LE in 2023 = 30.6 [56 year old]
If I have to take an RMD in years 1-9 from an inherited Roth IRA, does it work like this:
My 2023 Year 1 RMD Factor = 30.6
My 2024 Year 2 RMD Factor = 29.6
My 2025 Year 3 RMD Factor = 28.6
My 2026 Year 4 RMD Factor = 27.6
My 2027 Year 5 RMD Factor = 26.6
My 2028 Year 6 RMD Factor = 25.6
My 2029 Year 7 RMD Factor = 24.6
My 2030 Year 8 RMD Factor = 23.6
My 2031 Year 9 RMD Factor = 22.6
All remaining Roth IRA assets must be withdrawn by 12-31-2032 [12-31 of year 10].
Thank you in advance for your help.
Permalink Submitted by Alan - IRA critic on Thu, 2023-03-30 21:31