Designated Beneficiary
Definition A designated beneficiary is an individual (person) beneficiary whose is designated as beneficiary of a qualified plan account, 403(b) account, 457(b) plan or IRA,
February 28, 2009
Can my client use the five-year rule to take distributions from the IRA? The owner was age 80 when he died
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Can my client use the five-year rule to take distributions from the IRA? The owner was age 80 when he died
My client inherited an IRA from his father who died at age 80. Can my client use the five-year rule to take distributions from the IRA?
No. The five-year rule is not an option when the IRA owner dies on or after the required beginning date (RBD).
Also, for IRAs inherited after 2019, the 5-year rule would apply only to a non-person beneficiary, where the owner died before the RBD.
