CARES Act and Inherited Non-Qualified Annuity RMD’s
Does the CARES Act allow a non-spouse beneficiary of a non-qualified annuity taking life expectancy payments (RMD’s) to skip for 2020? Thank you.
Does the CARES Act allow a non-spouse beneficiary of a non-qualified annuity taking life expectancy payments (RMD’s) to skip for 2020? Thank you.
Permalink Submitted by Alan - IRA critic on Mon, 2020-04-20 19:04
No, because NQ annuities are not subject to RMDs per Sec 401(a)(9), and therefore the CARES Act does not affect annuity distributions which are determined by state law and/or the insurance company.