475 | How to Access Your Retirement Accounts Before 59.5 | Sean Mullaney
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Inherited IRAs and the Ten Year Rule
Inheriting an IRA after 2020 means the recipient, in most cases, needs to empty the account within ten years. This applies to adult children inheriting from their parents, and they may have to take Required Minimum Distributions (RMDs). Inherited Roth IRAs, however, do not have RMDs unless inherited from an adult sibling. In such cases, it is advised to leave the funds in the account for the full ten years to maximize growth from a tax planning perspective.
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