How long does a beneficiary have to claim an annuity?
How long does a beneficiary have to claim an annuity?
five years The default is the five-year rule. Under it, the beneficiary or beneficiaries have five years to take out the proceeds of the annuity. They can take them out gradually or in a single lump sum anytime up until the fifth anniversary of the owner’s death. But even a series of five equal distributions has tax drawbacks. Mar 9, 2020
