The SECURE Act of 2019 eliminated the “stretch IRA” for most nonspouse beneficiaries and replaced it with a 10-year liquidation rule. Most nonspouse beneficiaries who inherit a retirement account from someone who died after Dec. 31, 2019, must fully distribute the account by Dec. 31 of the 10th year following the original owner’s death. If the original owner had already begun RMDs, the beneficiary must also take annual distributions in years 1-9.
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