Ask Terry Questions Inherited IRA non-spousal beneficiary RMDs CORRECTION

Inherited IRA non-spousal beneficiary RMDs CORRECTION

By Terry Savage on May 13, 2019 |

My dad died in January of this year at 90 years old. I am one beneficiary of his IRA. I know I need to take my portion of his RMD this year based on his age. In your article (titled above) you wrote that “The exception: If the decedent has already started RMDs, she must continue at the same pace.” Does that mean I need to take 2020 and future RMDs calculated on his age and not mine on my inherited IRA?

Terry Says

A line was inadvertently left out.  The column should have said the non-spousal beneficiary must continue to take the RMD at the same pace as the deceased in the year of death.  In the subsequent years, the beneficiary (even if much younger) must continue to take RMDs, but over the beneficiary’s lifetime.

I’m sorry for the confusion and we will issue a correction/clarification.

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