Important Notes:

This guide and its contents are not intended to be and are not tax or legal advice. Your clients should consult with their appropriate tax or legal professional for advice and direction regarding their personal circumstances.

Assumptions:

This guide is based upon IRS required minimum distribution rules and regulations and assumes the following:

the inherited account is an Individual Retirement Account (IRA), not a Roth IRA or an employer-sponsored qualified plan
the Account Owner died on or after January 1, 2020
the Account Owner and Original Beneficiary received their RMD for the year of death
if available, the Original Beneficiary elected the life expectancy payment method and not the 10-year rule
if the 10-year rule applies and the beneficiary only takes RMDs, a lump sum distribution will be required at the end of the 10th year which could result in substantial income taxes in year 10
options provided by an IRA custodian may vary

REQUIRED ATTESTATION

By accessing the Inherited IRA RMDs Made Simple: A Practical Guide for Beneficiaries,
I acknowledge that I have read all of the above notes and assumptions.

Access the Guide

This information is not intended as tax or legal advice and is not intended or written to be used, and cannot be used, for the purpose of avoiding penalties that may be imposed under the Internal Revenue Code. Each taxpayer should seek advice based on the taxpayer’s particular circumstances from an independent tax advisor. Please encourage your clienst to consult with their attorney or accountant prior to acting upon any of the information contained herein.

National Life Group® is a trade name of National Life Insurance Company, Montpelier, VT, Life Insurance Company of the Southwest, Addison, TX, and their affiliates. Each company of National Life Group is solely responsible for its own financial condition and contractual obligations. Life Insurance Company of the Southwest is not an authorized insurer in New York and does not conduct insurance business in New York. This document may not be copied, transmitted, or otherwise disseminated in any way without the express written permission of National Life Group. The companies of National Life Group® and their representatives do not offer tax or legal advice. Please encourage your clients to consult with their appropriate professional advisor.

Guarantees are dependent upon the claims-paying ability of the issuing company.

TC8652397(0126)1 | Cat No 108306(0126)