What are my Stretch IRA distributions?
Under the new SECURE Act signed into law December 2019, non-spouse beneficiaries will have to withdraw all the funds in the inherited IRA within 10 years from the death of the original account owner. It applies to IRAs inherited after Dec. 31, 2019. By naming an "eligible designated beneficiary" (EDB) on your IRA account (spouse, minor children up to majority age, disabled or chronically ill individuals, etc) it will provide the EDB the opportunity to "stretch" out the IRA proceeds over his/her life expectancy. This gives the EDB more time to take advantage of the tax-deferral status of the IRA assets. Please keep in mind that distributions will be subject to any applicable federal and state income taxes. Use this calculator to provide a hypothetical projection of the required minimum distributions for you and your beneficiary. For non EDBs the calculator will amortize the withdrawals over the new required 10 year period.
The information provided here is to assist you in planning for your future. Any analysis is a result of the information you have provided. Material discussed is meant for general illustration and/or informational purposes only and it is not to be construed as tax, legal, or investment advice. Although the information has been gathered from sources believed to be reliable, please note that individual situations can vary therefore, the information should be relied upon when coordinated with individual professional advice.
Any rate of return entered into the interactive calculator to project future values should be a reasonable average return for the period. Rates of return will vary over time, and generally the higher the rate of return the higher the degree of risk.
Any rate of return entered into the interactive calculator to project future values should be a reasonable average return for the period. Rates of return will vary over time, and generally the higher the rate of return the higher the degree of risk.