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Here at Chadmere Capital Inurance and Financial Services, we are adhering to state and local guidelines in order to protect both the health and safety of clients and staff. Keeping our clients and staff safe is our highest priority and we’re taking all appropriate measures to ensure a safe environment. Should you prefer to not meet face-to-face, we are continuing to serve our clients through virtual settings such as Zoom or phone calls.

We look forward to continuing to help individuals and families achieve their ideal retirements.

Chademere Capital Insurance and Financial Services
(803) 242-1050




If I did a Roth conversion in 2022, do I have to wait 5 years before I can touch the amount $16,500 (the amount I converted) penalty free? The Roth has been open since 2003 and I’m over 59 ½.


The five-year rules for Roth IRA distributions can be very confusing. In your case, because you are over age 59 ½, you will have immediate tax and penalty free access to any converted funds in your Roth IRA. You will also have tax and penalty free distributions of any earnings in your Roth IRA since those distributions are qualified. They are qualified because you are over age 59 ½ and you have had a Roth IRA for at least five years.


Hi Ed,

I continue to hear conflicting information regarding non-spouse inherited IRA’s. My client (age 55) inherited an IRA from her brother (age 70) who died in September 2021 – before his RBD. She established an IRA BDA account. Since she in a non-spouse and not an EDB, she has to withdraw the entire account within 10 years. My understanding is that she is not required to make annual withdrawals but can withdraw as she wants as long as the account is exhausted within the 10 -year period. Is this correct? I’m reading much about the IRS eliminating the penalties for not withdrawing in 2022 but thought that was if the decedent dies on or after his RBD.

Can you please help us clarify this?

Thank you



Hi Janine,

The IRS proposed SECURE Act regulations that were issued last year created a lot of confusion over exactly how the 10-year rule works. They require RMDs be taken during the 10-year period when an IRA owner dies on or after their required beginning date. The IRS later issued guidance waiving penalties for not taking these RMDs for 2021 and 2022. You are correct that these rules do not impact your client. Because the IRA owner died before the required beginning date, no RMDs would be required during the 10-year term.


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