Flexibility is a great benefit of inherited IRAs. Beneficiaries who inherit this type of account may withdraw funds based on their needs, as long as they are in alignment with certain guidelines. They may begin withdrawing immediately or wait until the account matures, all while allowing assets to grow tax-deferred.
An inherited IRA is an Individual Retirement Account for the beneficiary of a deceased owner of an IRA or other types of retirement plans. It allows the beneficiary to withdraw assets based on IRS-approved distribution methods without having to pay an early withdrawal penalty.
While beneficiaries are taking distributions, the account has the potential to continue to grow tax-deferred until all assets have been distributed. Generally, the amount and timing of required distributions are based on the beneficiary's age or the original owner’s age, whichever is longer.
Did you inherit an IRA Account?
If you are the beneficiary of an IRA or qualified retirement plan, depending on its amount and other immediate financial needs, you may want to transfer the deceased individual’s retirement assets into an inherited IRA. A Janus Henderson Retirement Specialist can help you understand your options. Call us from 9 a.m. to 6 p.m. EST on weekdays at 800.525.1093.
Inherited an IRA. What's next?
With various types of distribution requirements and options, inherited IRAs can be complex. It’s best to speak to a tax advisor about your personal situation. When you need assistance, a Janus Henderson Retirement Specialist can help you calculate your RMD and more.
Estate planning is one of the pillars of personal finance, regardless of your net worth. A proper plan can protect you and the people you love.
Required Minimum Distribution Calculator
The Janus Henderson Required Minimum Distribution Calculator helps you understand how much and when you need to withdraw assets from your IRA account.
All Account Types
There are many Janus Henderson account types to meet your investment needs. If you already have an account directly with Janus Henderson, you can add to your existing account, open a new account or transfer assets from other financial institutions at any time.
Get a clear picture of your retirement goals and estimate how much you should save with the Janus Henderson Retirement Planner.