IRA Beneficiaries

[Guest JBS]

If an IRA owner names their Trust as beneficiary of the IRA, can the custodian require a copy of the trust be provided? Can an IRA owner provide the pertinent details of the trust instead without having to provide a full copy of the trust? If just the pertinent details can be provided, which details are considered pertinent for IRA use?

[BPickerCPA]

The trust need not be provided to the custodian until the death of the account holder, unless the account holder is eligible to use the joint life table for lifetime MRDs.

At death (deadline: 10/31 of year after the year of death), the trustee must provide the custodian with a copy of the trust agreement, OR provide the pertinent details AND agree to provide a copy of the trust if requested by the custodian.

Bottom line, after the death the custodian is entitled to a copy of the trust.