Stewardship Financial

If you inherited an individual retirement account (IRA) in 2020, you're 5 years in.
That means you have just 5 years left to deplete the account if you want to avoid penalties.

What should you do now?
✅ Review the remaining balance
✅ Evaluate your tax bracket
✅ Start or adjust your withdrawal strategy
✅ Consider changes coming in down the road

📞 Don’t guess. A financial professional can help you make smart moves from here.



Source: IRS.gov, August 26, 2024
https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-beneficiary

📌 If you've inherited an individual retirement account (IRA), you might be sitting on a powerful financial opportunity, but keep in mind that rules have changed in the past few years.

The SECURE Act’s 10-year rule means many beneficiaries must empty the account within 10 years of the original owner’s passing. Some exceptions apply.

👉 Consider speaking to our trusted financial professional team for guidance.
👉 Penalties may apply for missed Required Minimum Distributions (RMDs). Different minimum distribution requirements may apply to a surviving spouse of an IRA owner, a disabled or chronically ill individual, an individual who is not more


Source: IRS.gov, August 26, 2024.
https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-beneficiary