Depending on the terms of the IRA will determine if you have a RMD. Required Minimum Distribution (RMD) is the lowest amount you can withdrawal form you retirement account. This can be SEP, SIMPLE, or traditional IRA, 401(k), profit-sharing, 403(b), or any other defined contribution for the the year.
Per the IRS, "The factors that affect the distribution requirements for inherited retirement plan accounts and IRAs include:
- Whether the account owner died after 2019 (the SECURE Act made changes to the RMDs for beneficiaries if the death of the account holder occurred after 2019).
- The relationship of the beneficiary to the account owner and certain characteristics (spouse, minor child, disabled or chronically ill individual, entity other than an individual)
- Whether the original account owner died before or after their required beginning date (the first date the original account owner was required to begin taking RMDs)."
See the link below for more information:
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