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2020 RMDs from inherited IRAs?
Old 12-13-2020, 06:29 PM   #1
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2020 RMDs from inherited IRAs?

I coudn't revive the spring 2020 thread "No RMD's in 2020" [ https://www.early-retirement.org/for...-a-102895.html ] so we start anew....

In that thread there was no clear answer to whether the suspension of RMDs in 2020 includes RMDs from inherited IRAs (the inconclusive discussion begins at post #31).

Last week I called Vanguard Flagship twice: the first rep said "not included, you must take the RMD," and the second rep said "included, so you do not need to take the RMD."

Do we collectively have any clarity on 2020 RMDs from inherited IRAs?
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Old 12-13-2020, 06:53 PM   #2
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From the Internet:

Does cares Act apply to inherited IRA?
The CARES Act waived all required minimum distributions (RMDs) for qualified plans and IRAs, including inherited IRAs for 2020.
Please go to the CARES Act to be sure
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Old 12-13-2020, 07:32 PM   #3
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Originally Posted by Souschef View Post
From the Internet:

Does cares Act apply to inherited IRA?
The CARES Act waived all required minimum distributions (RMDs) for qualified plans and IRAs, including inherited IRAs for 2020.
Please go to the CARES Act to be sure

Thank you. From *where* on the internet? Forbes? Kiplinger? Fidelity?
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Old 12-13-2020, 07:34 PM   #4
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From the IRS:

"The Coronavirus Aid, Relief, and Economic Security Act, or CARES Act, waives required minimum distributions during 2020 for IRAs and retirement plans, including beneficiaries with inherited accounts."

https://www.irs.gov/newsroom/irs-sen...-under-new-law

(emphasis added by me)
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Old 12-13-2020, 07:46 PM   #5
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Perfect! Thank you!
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Old 12-13-2020, 08:32 PM   #6
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We didn't take any RMD out of DM's inherited (or spousal) tIRA. So you'll have company at least.
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Old 12-13-2020, 08:40 PM   #7
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Originally Posted by Animorph View Post
We didn't take any RMD out of DM's inherited (or spousal) tIRA. So you'll have company at least.
+1

DW has an inherited IRA from her Dad, and we won’t be taking a distribution this year.
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Old 12-14-2020, 07:07 AM   #8
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I took about 1/8 of my inherited IRA RMD in January, before the CARES Act, and decided I didn't want to come up with the funds to replace it, but as others have said, I was able to determining that it did apply to inherited IRAs. That's why I started a poll as to whether people thing we will have a suspension of RMDs in 2021, although if I am not able to find work in 2021, I might just take the RMD amount regardless.
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