My father passed away in September of 2020. All of his accounts were TOD and split between me and my 2 siblings. One of the accounts was an IRA. When he died, his IRA account was converted into 3 separate IRA-BDA accounts.
I've talked to Fidelity twice and they have told me that we're subject to the 10 year rule, so I thought this issue was settled long ago. My brother said they told him that we have to take out a required minimum distribution of 10% every year or face a penalty.
Who's correct here? I'm 49 and my brothers are 55 and 60. So I guess my question is what determines if we are required to take RMDs or the 10 year rule applies?
