Tax Tip #185

If the person died after 12/31/2019:

Birth Year           Age RMD Begins for Bene

1950 or earlier                             72                       

1951 - 1959                                73                   

1960 or later                               75                     

If the person died before 12/31/2019, the designated beneficiary (bene) can use the old stretch IRA rules unless the bene life expectancy needs to be updated & adjusted to reflect the new IRS actuarial tables starting in 2022. If the designated bene dies before the entire IRA account is distributed, the successor bene is subject to the 10-year rule. Under the stretch IRA rules, the bene took distributions based on the bene’s life expectancy.