Help - Search - Members - Calendar
Full Version: Roth inherited by two sons
BenefitsLink Message Boards > Retirement Plans > IRAs and Roth IRAs
JWH
Is the Roth split and does it remain a Roth for them?
Thank you
Appleby
It depends.

I assume both sons are primary beneficiaries.

Some custodians are able to perform the required tax reporting (i.e. under the tax ID number of the beneficiaries) even when distributions are done from the deceased’s account. However, most firms require that the assets be transferred to ‘inherited’ IRAs to ensure correct tax reporting..
If they are both primary beneficiaries, then the Roth is transferred to separate inherited Roth IRAs, one for each beneficiary.
This is a "lo-fi" version of our main content. To view the full version with more information, formatting and images, please click here.
Invision Power Board © 2001-2009 Invision Power Services, Inc.