IRS finalizes 10-year RMD rule for inherited retirement assets, except for eligible beneficiaries.

The IRS has finalized regulations for required minimum distributions (RMDs) in retirement accounts, implementing a new 10-year rule for inherited retirement assets. The rule mandates that certain beneficiaries of deceased IRA owners or plan participants must draw down their assets within 10 years of receiving them, as opposed to their "applicable" life expectancy. Eligible beneficiaries, including spouses, disabled individuals, or those no more than 10 years younger, are exempt from the 10-year rule.

July 18, 2024
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