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The SECURE Act Sets a Tax Trap for IRA Beneficiary Trusts.February 6, 2020 - 3:57 PM
The newly enacted Setting Every Community Up for Retirement Enhancement (“SECURE”) Act made major changes to the distribution rules for inherited IRAs. With few exceptions, the SECURE Act replaced the old life expectancy “stretch” IRA distribution rules with a mandatory 10 year distribution rule. This creates a potential tax trap for certain trusts named as […]
Taking a Closer Look – The SECURE Act’s “Eligible Designated Beneficiary.”January 30, 2020 - 2:01 PM
The Setting Every Community Up for Retirement Enhancement (“SECURE”) Act became law on January 1, 2020. The SECURE Act made major changes to the distribution rules governing inherited IRAs (both traditional and Roth) and company sponsored retirement plan accounts. In general, the Act requires a designated beneficiary of an inherited retirement account to withdraw the […]