Based on the statutory language of the SECURE Act, most tax experts had concluded that a typical nonspouse beneficiary would have ten years to liquidate an inherited IRA or other qualified account—and that it would NOT be necessary for the beneficiary to take RMDs along the way.

In its recent update to IRS Publication 590-B, the Service seems to be saying that most nonspouse beneficiaries MUST take annual RMDs from inherited qualified accounts AND must have the account completely liquidated at the end of the tenth year after the owner’s death.

Like many of our peers, we are surprised by the news. Join us for a detailed description of what has happened and what the future might hold.