Understanding the New RMD Rules for Inherited IRAs: Your Essential Guide – Part I
The FedLife Podcast (Ep. 99): Understanding the New RMD Rules for Inherited IRAs: Your Essential Guide – Part I
In celebration of episode 100, we’re excited to bring you a brand new conversation that delves into a topic many federal employees overlook — the inheritance of an IRA from someone other than a spouse. Discover the intricacies and rules of non-spousal IRA inheritors while enhancing your understanding of IRA inheritance, its tax implications, and crucial considerations for beneficiaries in this week’s release of the FEDLIFE Podcast with Ed Zurndorfer and Dan Sipe.
Ed and Dan discuss:
- The evolution of IRA inheritance: Learn the modifications introduced by the Secure Act 1.0 in December 2019 and how these alterations transformed the IRA inheritance landscape
- The modified rules surrounding RMDs for non-spousal beneficiaries, including the time frame within which distributions must be made
- Year-of-death distribution and its significance for individuals who pass away after their required beginning date (RBD) for RMDs
- The definition of an eligible designated beneficiary and how it affects the options for taking distributions over a beneficiary’s lifetime, with a special focus on disabled beneficiaries
- The impact of the SECURE Act 2.0 on eligible designated beneficiaries (EDBs)
- What you should know about the 10-year payout period for non-eligible designated beneficiaries (NEDBs) and its implications
- And more!
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“Securities offered through Raymond James Financial Services, Inc., member FINRA/SIPC. Investment advisory services offered through Raymond James Financial Services Advisors, Inc. Lee, Sipe & Associates, Inc. is not a registered broker/dealer and is independent of Raymond James. Content represents the opinions of the speaker and not necessarily those of Raymond James. Important Disclosure Information: http://raymondjames.com/smicd.htm.