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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.
Upon inheriting the IRA account, a beneficiary can opt to immediately take his or her entire share out of the IRA. However, remember that as stated above, all money withdrawn from a Traditional IRA is subject to income tax treatment. 1  Example: Jack inherits a $250,000 IRA account in 2011 and immediately withdraws it all.his option is available only to a surviving spouse named as beneficiary. No other beneficiary can do this. 1  Example: Jack is the surviving spouse and sole beneficiary of his wifeâs IRA. 2  Jack may rollover the funds into his own IRA.