Here's what to know before withdrawing funds from inherited individual retirement accounts
by CNBC
CNBC— If you've inherited an individual retirement account since 2020, you could have a shorter timeline to withdraw the money, which can trigger tax consequences.
usanewsgroup.com—Here’s what to know before withdrawing funds from inherited individual retirement accounts. If you’ve inherited an individual retirement account since 2020, you could have a shorter timeline to withdraw the money, which can trigger tax consequences. But there are a few things to consider before emptying an inherited account, experts say. Under the Secure Act of 2019, so-called “non-eligible designated beneficiaries,” have a 10-year window to deplete […]
@Marketplace—Inherited retirement account owners won’t face penalties for not withdrawing money this year. IRS rules require beneficiaries to make minimum withdrawals, but the tax agency has been waiving them.
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