Inherited IRAs – IRS Issues Final Regulations
Prior to 2019, most beneficiaries of Inherited IRAs could stretch out Required Minimum Distributions (RMDs) over their lifetime. However, the first SECURE Act eliminated this benefit and required that most non-spouse beneficiaries empty inherited accounts within 10 years. This change led to considerable confusion, most notably, whether annual RMDs were necessary during this 10-year period. […]
Another IRS Rule Change For RMDs!
The original SECURE Act enacted back in 2019 made two notable changes (among many) for those who owned retirement accounts. The first major change increased the age at which account owners must begin taking Required Minimum Distributions (RMDs) from their tax-deferred retirement accounts from age 70 ½ to 72. The second major change addressed how […]
Inherited IRA Strategies Post-SECURE Act
Many people in the financial planning world referred to the SECURE Act as the “death of the stretch IRA” because of the new 10-year rule. The 10-year rule requires most non-spouse owners of inherited IRA’s to spend down the balance of their Inherited IRAs by the end of the 10th year. Beneficiaries may be forced […]