Are RMDs suspended from stretch (beneficiary/inherited) annuities as well?
The CARES Act suspends RMDs 2020 and this relief provision applies to traditional IRAs, Roth IRAs, SEP IRAs, and SIMPLE IRAs, as well as 401(k), profit-sharing, 403(b), and Governmental 457(b) plans. Furthermore, this relief applies to both retirement account owners, themselves, as well as to beneficiaries taking stretch distributions regardless of the investment vehicle and the investment provider (annuities, mutual funds, bank CDs, etc.,). Please note that such relief is NOT available to beneficiaries of Non-Qualified Stretch Annuities.
Cetera Retirement Plan Specialists is a third-party administrator and may not offer tax, legal or investment advice. Plan sponsors should consult their own tax, legal or investment professionals.