Pension Corporation of America
Wealth Management
Pension Corporation of America
2133 Luray Avenue
Cincinnati, OH 45206
513-281-3366
fax 513-281-1799
wealthmanagement@pencorp.com
www.pencorp.com
 
 




Required Minimum Distributions (RMDs)

 

Inherited IRAs and Retirement Plans

Your RMDs from your IRA or plan will cease after your death, but your beneficiary(ies) will have to take RMDs eventually. How much they are required to take and when they are required to them depend on whether they are eligible designated beneficiaries (EDBs) and whether you die before or after you began your own RMDs.

Generally speaking, EDBs may spread RMDs over their own life expectancy, while non-EDBs are typically required to liquidate the account within 10 years. A spouse who is the sole beneficiary may generally roll over an inherited IRA or plan account into an IRA in the spouse's own name or treat the account as his or her own, allowing the spouse to delay taking additional RMDs until he or she reaches RMD age.

As with required lifetime distributions, proper planning for required post-death distributions is essential. You should consult an estate planning attorney and/or a tax professional.

Note:  The SECURE and SECURE 2.0 Acts dramatically changed the RMD rules for IRA assets inherited by most non-spouse beneficiaries. A financial or estate-planning professional can help you determine how the new rules may affect your estate-planning strategies.



Advisory Services Offered Through PCA Investment Advisory Services, Inc.
Securities Offered Through L.M Kohn & Company 10151 Carver Road, Ste. 100., Cincinnati, OH 45242
Member FINRA/SIPC And a Registered Broker-Dealer not affiliated with PCA Investment Advisory Services, Inc.
Prepared by Broadridge Investor Communication Solutions, Inc. Copyright 2024.