A few questions about the Inherited (Traditional, not Roth) IRA rules post-Secure Act 2.0, for those who are not “eligible designated beneficiaries,” and who inherited their IRA’s from parents (or others) who had begun their RMDS.
According to the Bogleheads Wiki,
“As of July 2024, the IRS issued final regulations that confirm RMDS are required for years 1-9 for those IRAs subject to the 10-year rule. However, this will be enforced starting in 2025, and RMDS not taken from 2021-2024 will be forgiven (including penalties).”
My questions:
1 Are RMDS definitely required in 2025, or is there a possibility that the IRS will postpone again?
2 Do we use IRS Table I (Single Life Expectancy) to calculate the amount of the RMD?
3 If the beneficiary dies, does the 10-year withdrawal “clock” start over for his or her beneficiary? Or does he or she need to finish the withdrawals on the 10-year schedule established for the beneficiary? In that case, does he or she use his or her own life expectancy to calculate the RMDS?
Thanks!
J
According to the Bogleheads Wiki,
“As of July 2024, the IRS issued final regulations that confirm RMDS are required for years 1-9 for those IRAs subject to the 10-year rule. However, this will be enforced starting in 2025, and RMDS not taken from 2021-2024 will be forgiven (including penalties).”
My questions:
1 Are RMDS definitely required in 2025, or is there a possibility that the IRS will postpone again?
2 Do we use IRS Table I (Single Life Expectancy) to calculate the amount of the RMD?
3 If the beneficiary dies, does the 10-year withdrawal “clock” start over for his or her beneficiary? Or does he or she need to finish the withdrawals on the 10-year schedule established for the beneficiary? In that case, does he or she use his or her own life expectancy to calculate the RMDS?
Thanks!
J
Statistics: Posted by jefmafnl — Thu Dec 05, 2024 3:26 am — Replies 1 — Views 208