Since 2006, Monica has continued to take RMDs from the inherited IRA using the ‘stretch’ by reducing the factor by one each year. Accordingly, in January 2020, Monica (now aged 82) took her 2020 inherited IRA RMD using a factor of 18.6 - 14 = 4.6. Now, suppose ...
If an original beneficiary died prior to depleting the full inherited IRA, the successor beneficiary was able to "step into the shoes" of the original beneficiary. They could continue to take the RMD each year based on the original beneficiary's remaining life expectancy. Through this method, t...
The primary disadvantage of naming a trust as beneficiary is that the retirement plan's assets will be subjected to required minimum distribution (RMD) payouts, which are calculated based on thelife expectancyof the oldest beneficiary. If there is only one beneficiary, it does not matter as much...
Use this form to request a distribution to the beneficiary of an IRA, SEP, SAR-SEP, 403(b), Profit-Sharing or Money Purchase Pension Plan account. Literature Code: RRET-FBDST Next Update 05/24 Format PDF This website is intended for residents of the United States. ...