[{"data":1,"prerenderedAt":139},["ShallowReactive",2],{"gql:data:wez_d70VarpXXez-VSybTARA8E9YYBH8EcopM4EGspw":3},{"mediaItem":4},{"relatedItems":5,"date":91,"derivedSeoDescription":92,"derivedSeoTitle":93,"derivedSocialMediaDescription":92,"derivedSocialMediaImage":94,"derivedSocialMediaTitle":93,"flexComponents":106,"author":9,"title":111,"byline":112,"shortDescription":9,"tileImage":113,"mediaFormat":122,"mediaFocuses":124,"teamMember":126},[6,40,66],{"title":7,"byline":8,"shortDescription":9,"slug":10,"featuredImage":11,"tileImage":22,"mediaFormat":33,"mediaFocuses":35,"date":39},"Saving For College","By Scott Christianson, 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the Next Generation with Buying a Home","helping-the-next-generation-with-buying-a-home",{"id":70,"alt":9,"caption":13,"assetUrl":71,"assetUrlXs":72,"assetUrlSm":73,"assetUrlMd":74,"assetUrlLg":75,"assetUrlXl":76,"assetUrlXxl":77,"width":21,"height":21},"930","https://www.fergusonwellman.com/system/uploads/fae/image/asset/930/Christianson_Scott.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/930/xs_Christianson_Scott.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/930/sm_Christianson_Scott.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/930/md_Christianson_Scott.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/930/lg_Christianson_Scott.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/930/xl_Christianson_Scott.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/930/xxl_Christianson_Scott.jpg",{"id":79,"alt":9,"caption":13,"assetUrl":80,"assetUrlXs":81,"assetUrlSm":82,"assetUrlMd":83,"assetUrlLg":84,"assetUrlXl":85,"assetUrlXxl":86,"width":31,"height":32},"929","https://www.fergusonwellman.com/system/uploads/fae/image/asset/929/Blog_WM.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/929/xs_Blog_WM.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/929/sm_Blog_WM.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/929/md_Blog_WM.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/929/lg_Blog_WM.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/929/xl_Blog_WM.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/929/xxl_Blog_WM.jpg",{"name":34},[89],{"name":37,"slug":38},"2024-04-10","2024-04-24","On April 16, the IRS issued Notice 2024-35, which announced required minimum distribution (RMD) withdrawals would be waived for certain beneficiaries of inherited retirement accounts (IRAs). This announcement is subject to the 10-year withdrawal rule under the SECURE Act, which stands for the “Setting Every Community Up for Retirement Enhancement” and was enacted in 2019.","Wealth Management Insights blog: 2024 Required Minimum Distributions for IRA Beneficiaries Waived Again by IRS",{"id":95,"alt":96,"caption":13,"assetUrl":97,"assetUrlXs":98,"assetUrlSm":99,"assetUrlMd":100,"assetUrlLg":101,"assetUrlXl":102,"assetUrlXxl":103,"width":104,"height":105},"6","Ferguson Wellman Logo","https://www.fergusonwellman.com/system/uploads/fae/image/asset/6/FW-OpenGraph_2x.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/6/xs_FW-OpenGraph_2x.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/6/sm_FW-OpenGraph_2x.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/6/md_FW-OpenGraph_2x.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/6/lg_FW-OpenGraph_2x.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/6/xl_FW-OpenGraph_2x.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/6/xxl_FW-OpenGraph_2x.jpg",1200,630,[107],{"instance":108},{"__typename":109,"body":110},"MediaPageTextComponent","On April 16, the IRS issued **[Notice 2024-35](https://www.irs.gov/pub/irs-drop/n-23-54.pdf)**, which announced required minimum distribution (RMD) withdrawals would be waived for certain beneficiaries of inherited retirement accounts (IRAs). This announcement is subject to the 10-year withdrawal rule under the [SECURE Act](https://www.investopedia.com/what-is-secure-act-how-affect-retirement-4692743), which stands for the “Setting Every Community Up for Retirement Enhancement” and was enacted in 2019. \r\n\r\nThe SECURE Act introduced changes to inherited IRA distribution rules by eliminating the stretch IRA for most beneficiaries and replacing it with a 10-year distribution rule. Under this rule, non-eligible designated beneficiaries (NEDBs) must deplete the inherited IRA within 10 years of the original account owner's death. \r\n\r\nHowever, exceptions apply to eligible designated beneficiaries (EDBs) such as surviving spouses, minor children, disabled individuals, chronically ill individuals and individuals not more than 10 years younger than the IRA owner, who can still benefit from the stretch IRA and are not subject to the 10-year distribution rule.\r\n\r\nIn February 2022, the IRS proposed additional regulations for NEDBs who inherit IRAs from account owners who passed away after reaching their required beginning date for required minimum distributions. The IRS clarified that this group of beneficiaries must take annual RMDs during years one through nine of the 10-year period. These proposed regulations are pending court approval. \r\n\r\nDue to the ongoing legal process and absence of a final court ruling, the IRS has again opted to waive RMDs for this group of beneficiaries for 2024, the fourth consecutive year.\r\n\r\nIt is important to note that Notice 2024-35 does not affect lifetime RMDs. Eligible designated beneficiaries are not eligible for this RMD relief since they are exempt from the 10-year rule and must take their 2024 RMDs. The relief also does not extend to beneficiaries who inherited IRAs before 2020 and are governed by pre-SECURE Act rules allowing any designated beneficiary to stretch distributions over their lifetime.\r\n\r\nThe IRS also specified in Notice 2024-35 that it anticipates finalizing the proposed SECURE Act regulations from February 2022, effective 2025. \r\n\r\nTo learn more about this rule, you can read the CNBC article [here](https://www.cnbc.com/2024/04/19/irs-waives-required-withdrawals-from-some-inherited-ira-for-2024.html#:~:text=In%202022%2C%20the%20IRS%20proposed,extended%20that%20relief%20for%202024).\r\n\r\nIf you would like to discuss this further and how it may or may not apply to you, please contact your portfolio manager.\r\n\r\n**Disclosure**\r\n\r\n*The views expressed represent the opinion of Ferguson Wellman. The views are subject to change and are not intended as a forecast or guarantee of future results. This material is for informational purposes only. It does not constitute investment advice and is not intended as an endorsement of any specific investment. Statements of future expectations, estimates, projections and other forward-looking statements are based on available information and Ferguson Wellman’s views as of the time of these statements. Past performance may not be indicative of future results. Ferguson Wellman, Octavia Group and West Bearing do not provide tax, legal, insurance or medical advice. This material has been prepared for general educational purposes only and not as a substitute for qualified counsel who can determine how this information applies to you. We believe the information provided is from reliable sources but should not be assumed accurate or complete.*\r\n\r\n*Please see additional [disclosures](/disclosures/).*","2024 Required Minimum Distributions for IRA Beneficiaries Waived Again by IRS","By Tyler Conroy, CFP®, CPWA®",{"id":114,"alt":9,"caption":13,"assetUrl":115,"assetUrlXs":116,"assetUrlSm":117,"assetUrlMd":118,"assetUrlLg":119,"assetUrlXl":120,"assetUrlXxl":121,"width":31,"height":32},"912","https://www.fergusonwellman.com/system/uploads/fae/image/asset/912/Blog_WM.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/912/xs_Blog_WM.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/912/sm_Blog_WM.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/912/md_Blog_WM.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/912/lg_Blog_WM.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/912/xl_Blog_WM.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/912/xxl_Blog_WM.jpg",{"name":34,"slug":123},"articles",[125],{"name":37,"slug":38},{"fullName":127,"title":128,"slug":129,"image":130},"Tyler Conroy, CFP®, CPWA®","Vice President","tyler-conroy",{"id":131,"alt":9,"caption":13,"assetUrl":132,"assetUrlXs":133,"assetUrlSm":134,"assetUrlMd":135,"assetUrlLg":136,"assetUrlXl":137,"assetUrlXxl":138,"width":21,"height":21},"202","https://www.fergusonwellman.com/system/uploads/fae/image/asset/202/Conroy_Tyler.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/202/xs_Conroy_Tyler.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/202/sm_Conroy_Tyler.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/202/md_Conroy_Tyler.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/202/lg_Conroy_Tyler.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/202/xl_Conroy_Tyler.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/202/xxl_Conroy_Tyler.jpg",1783546192156]