Withdrawing from an inherited IRA

When you inherit an IRA, many of the IRS rules for required minimum distributions (RMDs) still apply. However, there may be additional rules based on your relationship to the deceased original owner.1


Do RMDs apply to inherited IRAs?

If you inherited an IRA such as a traditional, rollover IRA, SEP IRA, SIMPLE IRA, then the rules for taking RMDs will depend on whether the beneficiary of the original depositor's IRA is a spouse, non-spouse2 or an entity (such as a trust, estate or charity). If you don't take the RMDs from your account, you will be subject to a penalty equal to 25% of the amount that should have been withdrawn.


If you inherited a Roth IRA then the same rules generally apply—you must take RMDs. However, as long as the assets have been in the original Roth IRA owner's account for 5 years or more, withdrawals are generally tax free.

Which situation below applies to you?

I am a spouse beneficiary of the original IRA owner.

When you inherit an IRA or Roth IRA, many of the IRS rules for required minimum distributions (RMDs) still apply. However, there may be additional rules based on your relationship to the deceased original owner.


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I am an eligible designated or non-eligible designated beneficiary of the original IRA owner.


When you inherit an IRA or Roth IRA, your distribution requirements will be based on certain factors, including the date of the original account owner's death.


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I am a see-through trust beneficiary of the original IRA owner and qualify as a see-through trust.


Generally, a see-through trust distributes based on the oldest trust beneficiary's age based on Single Life Expectancy.


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I am a Trust, Estate, or Entity Beneficiary of the original IRA owner.


If the beneficiary is an entity, charity, or non-see through trust, and the owner had begun taking RMDs, the distributions would be based on the remaining Single Life Expectancy. If the owner was younger than 72, the assets must be completely distributed by December 31 of the 5th year containing the anniversary of the IRA owner's death.


Consult your tax advisor to determine if an exemption may apply to the trust.


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