Such actions must be made in conformity with this Order including applicable deadlines. (transportation.gov)
A beneficiary who is subject to the life expectancy option but failed to withdraw RMD amounts by the applicable deadline may receive an automatic waiver of the penalty by withdrawing the total balance of the inherited account by Dec. 31 of the fifth year that follows the year the retirement account owner died (the five - year rule). (businessinsider.com)
Like the RMD rules for retirement account owners, the rules for beneficiaries impose a penalty of 50 % of the shortfall if the RMD amount is not distributed by the applicable deadline. (businessinsider.com)