Current rules for RMD's from old-ish Inherited IRA's

[Sidewinder]

See, I inherited a IRA ten years ago.  The tax code at the time was such that to determine your RMD, you divide the number o' dollars in the IRA by the number o' years the IRS's actuarial table says you have left to live.

 

See, I have inherited another IRA and evidently it is now the case that the whole thing has to be distributed within ten years.  This was news to me.

 

Is the IRA I inherited in 2014 grandfathered in, or am I in trouble for not having drained it all, these ten years later?  (With investment appreciation, there's about as much in there now as there was ten years ago, even with me having made regular withdrawals  : /  )

 

 

[8ball]

It looks like your fine-

The 10-year date comes from the SECURE (Setting Every Community Up for Retirement Enhancement) Act, which was passed at the end of 2019.

The act establishes a time period of 10 years for the “full” distribution of an inherited IRA, but ONLY for deaths occurring after 2019 and not for ALL beneficiaries.

Confused By The New SECURE Act’s 10-Year Rule For Inherited IRAs? (forbes.com)

[Sidewinder]

On 7/11/2024 at 6:49 AM, 8ball said:

It looks like your fine-

The 10-year date comes from the SECURE (Setting Every Community Up for Retirement Enhancement) Act, which was passed at the end of 2019.

The act establishes a time period of 10 years for the “full” distribution of an inherited IRA, but ONLY for deaths occurring after 2019 and not for ALL beneficiaries.

Confused By The New SECURE Act’s 10-Year Rule For Inherited IRAs? (forbes.com)

 

I thank you for this.