people may pass away before they make it to retirement age or withdraw all funds from their account. Inherited Roth IRAs often have better tax avoidance capabilities, though those inheriting traditional IRAs will be further constrained. In addition, traditional IRAs will have greater RMD requirements...
The IRS providesfurther rules around your options, including what you can do with aRoth IRA, where the rules differ substantially from traditional IRAs. 2. Choose when to take your money If you’ve inherited an IRA, you’ll need to take action to avoid running afoul of IRS rules. ...
the IRA can be re-registered as an inherited IRA in your name. Whether or not this makes sense for you depends on the type of IRA you have inherited (traditional or Roth), your decedent spouse's age, and the RMD rules.
I Turned 72 in August 2021. What Is my Required Beginning Date for my Traditional IRA? The required beginning date for many retirement accounts depends entirely on the year you were born. So if you turned 72 in August 2021, your RBD was April 1, 2022. This means that you were required ...