10-year rule | Ed Slott and Company, LLC

10-year rule

INHERITED IRA 10-YEAR RULE AND DISABLED CHILD AS ELIGIBLE DESIGNATED BENEFICIARY: TODAY’S SLOTT REPORT

Thursday, March 09, 2023
Question: Hello, I have an inherited IRA which falls under the 10-year rule. I understand that the IRS has tried to clear up the 10-year RMD (required minimum distribution) confusion but I am still not sure which RMD Table I am supposed to use! I am a non-spouse (daughter of the deceased) and it's confusing. Will I need to make up the RMDs for the first two years when the rules were not clearly stated? Thank you,
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Roth IRA Distributions and the 10-Year Rule: Today's Slott Report Mailbag

Thursday, February 02, 2023
Question: If I did a Roth conversion in 2022, do I have to wait 5 years before I can touch the amount $16,500 (the amount I converted) penalty free? The Roth has been open since 2003 and I'm over 59 ½. Answer: The five-year rules for Roth IRA distributions can be very confusing. In your case, because you are over age 59 ½, you will have immediate tax and penalty free access to any converted funds in your Roth IRA. You will also have tax and penalty free distributions of any earnings in your Roth IRA since those distributions are qualified. They are qualified because you are over age 59 ½ and you have had a Roth IRA for at least five years.
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The 10-Year Rule and Roth Conversions: Today's Slott Report Mailbag

Thursday, December 22, 2022
Question: Ed, I started reading your newsletter and I wondered what you thought of IRS Notice 2022-53. It made sense to me to the point where it said that "the beneficiary of an employee who died after the employee's required beginning date must take the RMD beginning in the first calendar year after the calendar year of the employee's death." But then in the end they lost me when it says it applies only if the employee died in 2020 or 2021. Seems like it should say 2022 as well.
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IRA Rollovers and 2021 RMDs: Today's Slott Report Mailbag

Thursday, October 20, 2022

By Sarah Brenner, JD
Director of Retirement Education
Follow Us on Twitter: @theslottreport


Question:

Can an IRA to Roth IRA rollover be spread out over two transactions to soften the upfront tax hit?


Answer:

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IRS Waives 50% Penalty for Missed 2021 and 2022 RMDs Within the 10-Year Period

Monday, October 10, 2022
Last Friday (October 7, 2022), the IRS waived the 50% penalty on missed 2021 and 2022 inherited retirement account RMDs for beneficiaries subject to the SECURE Act 10-year payout period. The guidance was in IRS Notice 2022-53.
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“Update Needed” – Top 5 IRA Items to Consider

Monday, October 03, 2022
We are constantly bombarded with requests to update our information. “Password needs updating.” “Software update for your mobile device.” “Please update your email so our marketing team can continue to fill your inbox with spam.” It is never ending. Most of these update requests are trash. An automatic delete. However, some updates are vitally important and demand our attention. Regarding retirement accounts and IRAs, here is a countdown of five critical items that should be considered, reviewed and updated immediately:
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RMD Withdrawals and the 10-Year Rule: Today's Slott Report Mailbag

Thursday, April 28, 2022
Question: I’m 68 years old. I would like to start IRA withdrawals. What are the rules for withdrawing before my RMDs are required at age 72? Thanks, Bob
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“Missed” 2021 RMD Within the 10-Year Rule? Our Advice on How to Proceed

Monday, April 04, 2022
The new SECURE Act regulations, released in late February, created a firestorm of confusion and complexity. We have addressed concerns in recent Slott Report articles and will continue to do so as issues arise. However, as of now, one question has emerged as the most popular: How do beneficiaries handle “missed” 2021 RMDs within the 10-year payout rule?
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SECURE Act Regulations Are Here

Monday, February 28, 2022
On February 23, 2022, the IRS released the long-awaited proposed SECURE Act regulations. The new regulations clock in at 275 pages and offer guidance on many SECURE Act rules. They also include a few surprises. Here are some highlights.
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10-YEAR PAYMENT RULE AND 2022 POST-DEATH REQUIRED MINIMUM DISTRIBUTIONS: TODAY’S SLOTT REPORT MAILBAG

Thursday, January 06, 2022
Question: Has the IRS clarified the 10-year rule on inherited IRAs? Do you have to take RMDs each year or can you wait until the 10th year? Also, does this rule apply to inherited Roth IRAs? Thanks, Daniel
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