Required minimum distribution (RMD) rules are similar for IRAs and employer retirement plans, but there are some key differences you should keep in mind.
Roth IRA RMDs are NOT required Roth 401(k), 403(b), or 457(b) (designated Roth account) RMDs are NOT required Inherited retirement accounts If the deceased has not taken their RMD, you must generally take a distribution for them by December 31 of the year of death. If the heir of...
RMDs will subsequently be calculated based on the owner's age. Rules for Non-Spouses The first step for non-spouses is to pay any RMD owed by the deceased in the year of death. After that, a non-spouse who inherits an IRA must transfer the funds to a particular inherited IRA. The...
if you inherit an IRA, the time frame for receiving required minimum distributions is based on when the deceased would have turned 70 1/2 rather than when you turned 70 1/
Inherited from someone other than spouse.If the inherited traditional IRA is from anyone other than a deceased spouse, the beneficiary cannot treat it as his or her own. This means that the beneficiary cannot make any contributions to the IRA or roll over any amounts into or out of the ...