Common use of RMD Rules for Designated Beneficiaries Clause in Contracts

RMD Rules for Designated Beneficiaries. If you are a designated beneficiary (as defined above) of the IRA, you generally had until December 31 of the year following the IRA owner’s year of death to begin RMDs. Exceptions exist for a surviving spouse who is the sole beneficiary of the Xxxx XXX or for a beneficiary who selects, or defaults to, the five-year rule. However, if the year of death was 2019, RMDs must begin by December 31, 2021.

RMD Rules for Designated Beneficiaries. If you are a designated beneficiary (as defined abovebelow) of the IRAIRA owner, you generally had until December 31 of the year following the IRA owner’s year of death to begin RMDs. Exceptions exist for a surviving spouse who is the sole beneficiary of the Xxxx XXX or for a beneficiary who selects, or defaults to, the five-year rule. However, if the year of death was 2019, RMDs must begin by December 31, 2021.