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Based on the statutory language of the SECURE Act, most tax experts had concluded that a typical non-spouse beneficiary would have ten years to liquidate an inherited IRA or other qualified account—and that it would NOT be necessary for the beneficiary to take RMDs along the way.

In its recent update to IRS Publication 590-B, the Service seems to be saying that most non-spouse beneficiaries MUST take annual RMDs from inherited qualified accounts AND must have the account completely liquidated at the end of the tenth year after the owner’s death.

Like many of our peers, we are surprised by the news. 

Join E4IS on Wednesday, May 5 at 1 pm eastern as we welcome Linas Sudzius, J.D., CLU, ChFC President, Advanced Underwriting Consultants on our weekly BREW (Building Relationships Every Week). Linas will review a detailed description of what has happened and what the future might hold. Click to download the calendar.

Catch up on past webcasts on the BREW Blog.

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