Page 146 - JoFA_Jan_Apr23

TAX / PERSONAL FINANCIAL PLANNING

Beneficiary IRAs:

A guide to the RMD maze

Advisers can aid inheritors of individual retirement
accounts to make optimal choices for their

required minimum distributions.

By Dayna E. Roane, CPA, CGMA

IMAGES BY FILO/GETTY IMAGES A need help unraveling the host of rules and requirements inherited IRAs are complicated. They became more so with the

newly acquired individual retirement account (IRA) is
Setting Every Community Up for Retirement Enhancement
good financial news for the recipient, but clients may
(SECURE) Act of 2019, P.L. 116-94, and then the SECURE
2.0 Act, which passed on Dec. 29, 2022 (Division T of the
regulating how and when beneficiaries must take required
minimum distributions (RMDs). Tax laws surrounding

April 2023
8 | Journal of Accountancy Consolidated Appropriations Act, 2023, P.L. 117-328). Failure