Roth inherited by two sons

[Guest 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.