New Inherited IRA Rules | SDG Accountants

Moving on to how the rules changed in 2020, the SECURE Act only made two main changes. The first change is that inherited IRA account owners will no longer be required to take the decedent’s Required Minimum Distributions. The withdrawal of money is also regulated by the SECURE Act. Owners of inherited accounts must now withdraw the whole balance of the inherited account within 10 years. This means that all taxes and inherited account balances must be settled within ten years of the inheritance…

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