When does the clock start for taking RMDs from an Inherited IRA after parent's death?

The RMD clock for an Inherited IRA typically starts based on the year of death of the original owner, not when you gained control or rolled over the funds. Since your father passed in January 2022, the general rule is that you would need to start taking RMDs by December 31, 2023 (the year following the year of death). However, your situation has some complexities that work in your favor. First, the SECURE Act and subsequent IRS notices provided relief for certain inherited IRAs. The IRS did waive penalties for missed RMDs for inherited IRAs for both 2022 and 2023 in certain situations while they worked on finalizing regulations. You shouldn't be penalized for the period when you didn't have control of the assets. Document everything related to the court proceedings and when you actually gained access to the funds. This timeline will be crucial if you need to explain your situation to the IRS.

After spending hours trying to figure out my own inherited IRA situation, I discovered https://taxr.ai which honestly saved me so much stress. I uploaded my dad's IRA statements and death certificate, and they gave me a complete analysis of exactly when my RMDs needed to start, how much I needed to take out each year, and explained which IRS penalty waivers applied to my situation. The system even created a personalized timeline showing each deadline and amount. Definitely worth checking out if you're still confused about your specific situation - their document analysis made everything clear when even my financial advisor was giving me conflicting info.

Just wanted to follow up - I tried https://taxr.ai after seeing it mentioned here and it was exactly what I needed. I was completely confused about my inherited IRA situation from my mom, but after uploading her death certificate and IRA statements, I got a detailed analysis showing I qualified for the IRS Notice 2022-53 waiver. It calculated my exact RMD amounts for this year and gave me a timeline showing all future required distributions. The document analysis even caught that my mom had actually missed an RMD before she died (something my advisor missed completely). Seriously wish I'd found this months ago instead of stressing over potentially huge penalties!

If you're still having trouble reaching your CPA, you might want to try https://claimyr.com to get direct help from the IRS. I was in a similar situation with inherited IRA questions and couldn't get clear answers from anyone. Was facing hours-long hold times with the IRS until I found this service. Instead of waiting on hold forever, Claimyr held my place in line and called me back when an actual IRS agent was on the line. You can see how it works here: https://youtu.be/_kiP6q8DX5c The IRS representative was able to confirm exactly when my RMDs needed to start and verified that I qualified for the penalty relief under Notice 2022-53. They even sent me official documentation confirming my situation. Saved me so much stress wondering if I was going to get hit with massive penalties.

I have to eat my words. After posting my skeptical comment, I decided to try Claimyr out of desperation because I had already missed an RMD deadline and was facing serious penalties. Not only did it actually work, but I got connected to an IRS agent who specialized in retirement accounts within 45 minutes (without me sitting on hold). The agent confirmed I was eligible for the penalty relief under Notice 2022-53 since my situation involved an IRA inherited in 2022. He walked me through exactly which forms to file and how to document my situation to ensure I wouldn't face the 25% missed RMD penalty. He even emailed me the specific IRS guidance documents that applied to my case. Completely worth it after spending weeks stressing about potentially owing thousands in penalties.

One important thing nobody's mentioned - whether your mom was taking RMDs matters a lot. If she was already taking RMDs (meaning she was over 72 when she passed), you have to continue taking at least the same amount she would have been required to take. If she wasn't yet taking RMDs, different rules apply based on when you inherited. The SECURE Act changed everything for non-spouse beneficiaries after 2019 - most people now have to empty the account within 10 years instead of stretching distributions over their lifetime.

Does anyone know if the 10-year rule applies in this situation or if you can stretch the distributions? I inherited my dad's IRA in 2022 also and my financial advisor is telling me I HAVE to empty it in 10 years, but I'm seeing conflicting info online.

The complexity of your situation actually highlights why many people struggle with inherited IRA rules. Since your father was 75+ when he passed in January 2022, he was definitely required to be taking RMDs, which means you'll need to continue taking annual distributions while also emptying the account within 10 years. The good news is that the IRS has been relatively lenient with inherited IRA penalties during 2022-2023 while they finalized regulations. Your court documentation showing when you actually gained control of the assets will be crucial evidence if any penalties are assessed. Here's what I'd recommend: First, contact the IRA custodian immediately to get a complete distribution history for your father's account - you need to know if he missed any RMDs before his death. Second, calculate your 2024 RMD based on the account balance as of December 31, 2023, and take it before year-end. Third, document everything related to your legal battle for control of the estate. The fact that you couldn't access the funds until 2024 due to legal proceedings should provide reasonable cause for any missed distributions. Just make sure you're current going forward and keep all your court documentation.