The Answer, My Friend, is No Longer Blowin’ in the Wind

IRS clarifies RMDs under the 10-Year Rule.

On July 19, 2024, the Internal Revenue Service and the Treasury Department published Required Minimum Distributions Final Regulations. The regulations are effective as of September 17, 2024 and reflect changes made by the SECURE Act and the SECURE 2.0 Act.

One long-awaited question that required clarification was if annual required minimum distributions (RMDs) under the 10-Year Rule are mandatory if the original account owner’s death occurred after they were taking RMDs.  The answer is YES.