@fanfare wrote:
"spouse beneficiary does not have to close the account within 10 years unless they opt into the 10 year rule (otherwise, they must withdraw over their entire life)."
How do you opt into the 10-year rule ?
Thanks.
@Opus 17
Not sure. @dmertz mentioned it. It may need clarification. As dmertz framed it, it only applies to inherited Roth IRAs. He says that if you opt into the 10 year rule, RMDs are not required in year 1-9, as long as you close the account or assume ownership by year 10. I'm not sure how that agrees with the rule that if you miss an RMD (as a qualified beneficiary), you are deemed to have assumed ownership of the account.
(With regards to an inherited traditional IRA, you must take RMDs no matter whether you are under the 10 year rule or the lifetime rule for qualified (includes spouse) beneficiaries. So there's no difference and no way to "opt in" to the 10 year rule, you just take RMDs (or more) until you decide to spend out the account.)
