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Annual Distributions. Alternatively, IRA beneficiaries are allowed to take annual distributions based on the IRS life expectancy table, instead of withdrawing the entire account within five years. Annual distributions to IRA beneficiaries must begin in the year after the account ownerâs death. If annual distributions donât start on time, however, the beneficiary must liquidate the entire IRA within five years.
1 Generally, you must take distributions during your lifetime or within five years after the original account holder passed away. 2  With an Inherited Traditional IRA, youâll pay taxes on any distributions you take. 3  Rollover, SEP, and SIMPLE IRAs become Inherited Traditional IRAs.