Am I required to take money out of an inherited IRA?
Answers | 1
The date you must begin taking RMD’s is generally determined by whether the original account holder had reached age 70½ or their Required Beginning Date (RBD), which is April 1 of the year after the account holder reached, or would have reached, age 70½.
If you don’t take the RMD when required, you may have to pay a 50% IRS penalty on the RMD amount. The amount of the RMD you must withdraw each year is typically based on your life expectancy and the year-end value of your account. You can estimate your RMD with our Beneficiary RMD Calculator or the broker or custodian of the account should be able to tell you what the RMD amount should be.
Moneytips.com has an article on inheriting IRA’s (http://www.moneytips.com/inheriting-an-ira).
Also you may go directly to the IRS website to get additional information (https://www.irs.gov/Retirement-Plans/Plan-Participant,-Employee/Retirement-Topics-Required-Minimum-Distributions-%28RMDs%29)
Sorry for the long winded answer, without the specifics of your circumstances I wanted to be sure to cover most of the bases of I hope you find this information useful and helpful.