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Inheriting a $200,000 IRA Comes With a Costly IRS Catch

Original: Inherit a Parent's $200,000 IRA at 62 and Take Nothing the First Year. If They Had Already Started RMDs, the IRS Wants One Every Year, and the Fine on the Missed One Is About $2,000

Adult children who inherit a parent's IRA face strict required minimum distribution rules. If the parent had already begun taking RMDs, the IRS requires the beneficiary to take one every year as well. Skipping the first year's withdrawal from a $200,000 inherited IRA can trigger a penalty of roughly $2,000, a warning that is drawing attention among retirement planners and savers.

Why now: The penalty rules for inherited IRAs are widely misunderstood, making this a practical warning for beneficiaries.

IRSinherited IRA24/7 Wall St.

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• Inherit a Parent's $200,000 IRA at 62 and Take Nothing the First Year. If They Had Already Started RMDs, the IRS Wants One Every Year, and the Fine on the Missed One Is About $2,000 · 24/7 Wall St.

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