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Alpha Wealth Management & Planning, LLC

When Should You Take The RMD From An IRA Inherited In 2021?

If you inherited an IRA (Individual Retirement Account) in 2021 from someone who was required to take RMD’s (Required Minimum Distributions), you might need to take action. Beneficiaries of inherited IRA’s could possibly face penalties if the previous owner did not withdraw their full RMD. But when is the deadline for you, the beneficiary, to take the RMD to avoid possible penalties? (Click Here) This article by Forbes highlights information that could be useful to determining when you need to take RMD's from IRA's inherited in 2021