What is an Inherited IRA?

$Inherited IRA for Spouse An Inherited IRA is an account opened when a beneficiary inherits an IRA or an employee- sponsored retirement plan after the death of the original account owner.Options for inheriting an IRAThe options you will have would depend on your relationship with the deceased and age of deceased at the time of death.RBD (Required beginning date)Prior to RBDPost RBDWithdraw all assets at onceRMDs based on your age and available if you are the sole beneficiary(a) Life Expectancy Rule (RMDs mandatory each year)(b) 5 year RuleRMDs mandatory for the year of deathRMDs to start by December 31st in year following deathNot ApplicableRMDs to start when the deceased would have turned 70.5y oldDistribution of entire A/C in 5 years after deathAnnual RMDs based on the longer of the two options: 1. Your single life expectancy 2. Deceased’s remaining life Distributions based on your single life expectancy1. Take Lumpsum distribution2. Roll assets into your own IRA3. Setup an Inherited IRANote: Roth IRA distributions are non-taxable if 5-year holding period has been met. If not, they are taxable till 5-year holding period requirement is satisfied. Taxation of other withdrawalsRMDs based on your age , and when rolling assets into your own IRA.Taxed at current tax bracket +10% penaltyTaxed at current tax bracket59.5 years59.5 yearsLess thanMore thanDistributions are mandatory after 70.5 yearsOpen an IRA in 5 minuteswww.qplum.co/ira1-888-QPLUM-4Ucontact@qplum.co Harborside 5, 185 Hudson Street Suite 1620, Jersey City, NJ 07311qplum LLC is a registered investment advisor (see SEC.gov for more information). Information presented is for education purposes only and does not intend to make an offer for solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and there are no guarantees of any kind. Be sure to first consult with a qualified financial advisor and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance. Visit our website for full disclaimer and terms of use.*For more information on distributions and conditionsCLICK HERE

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