Need to Know Deadlines for IRA Beneficiaries

September 30th

  • Deadline for identifying designated IRA beneficiaries

October 31st

  • Deadline for providing all required documentation for a trust to the IRA custodian

December 31st

  • RMDs (Required Minimum Distributions) – this deadline applies beginning with the year after the IRA owner dies
  • Separate Account Rule – in the year after the IRA owner dies, beneficiaries have until this deadline to separate the inherited IRA so they may individually maximize the tax-deferred benefits of their IRA inheritance

9 Months (after IRA owner dies or beneficiary turns age 21)

  • Disclaim an Inherited IRA – this deadline is important if a disclaiming strategy has been set in place or you inherited IRA assets and simply do not want to accept some or all of the money

More Updates


For trusts that inherited an IRA in 2019, an important deadline is approaching. The due date to provide required trust documentation to the IRA custodian to ensure that the longest payout period possible is available for the inherited IRA is October 31, 2020. Generally, only individuals who are named on an IRA beneficiary form can

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The coronavirus-related distribution (CRD) rules for Roth conversions have a gaping hole. An “affected person” (as we have defined in previous blogs), is entitled under the CARES Act to withdraw up to $100,000 from their IRA or workplace retirement plan. A CRD avoids the 10% early distribution penalty for those under 59 1/2, can be

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Rolling Over an RMD

Like most people’s lives, the retirement world is upside down. This is made evident by a single statement: “Required minimum distributions (RMDs) can be rolled over.” Yes, that is the new normal—at least for this year. RMDs are considered the first money out of an IRA and workplace plan. Typically, these dollars are ineligible to

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