Inherited IRA – RMDs
A client recently passed away at age 67. Her two adult sons are beneficiaries. I believe they fall under the 10 year rule, but am unsure whose life expectancy to use. They will open two separate Inherited IRA accounts.
A client recently passed away at age 67. Her two adult sons are beneficiaries. I believe they fall under the 10 year rule, but am unsure whose life expectancy to use. They will open two separate Inherited IRA accounts.
Permalink Submitted by Tracy Hawbaker on Thu, 2023-10-19 14:30
Also due to new updates, are RMDs even required or just empty the account by 2033?
Permalink Submitted by David Mertz on Thu, 2023-10-19 14:37
Because the client died before the client’s Required Beginning Date for RMDs, the beneficiaries have no annual RMDs under the 10-year rule. With no annual RMDs required, the age of the beneficiaries is not a factor.