Ask Terry Questions Inherited non-spousal IRA

Inherited non-spousal IRA

By Terry Savage on July 07, 2024 | Financial Planning / Retirement

Terry, 2 years ago I inherited a non-spousal IRA upon the death of my mother who inherited it upon the passing of her husband, my father. I was told by numerous financial advisors that it must have a balance of 0, 10 years after her death but then they said maybe…no final decision from government. Is it still being debated or must it be gone in the 8 years? Thank you

Terry Says

There were some delays in instituting the rule, but yes, non-spousal beneficiaries must liquidate an IRA by the end of 10 years after the death of the grantor.   So you have  8 years to go!!  And you must pay taxes on the RMDs, don’t forget — so maybe ask the custodian to withhold 20% for taxes.

But these rules are complex, so here’s a complete guide to the process:  Did You Inherit an IRA? Follow These Rules to Avoid Taxes (

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