Wording for Inherited IRA
My understanding is the there is specific wording necessary for beneficiaries to receive the IRA and use the stretch procedure …
IRA of the deceased John Doe, FBO (for the benefit of) John Doe Jr (with the ss# of John Jr and each designated beneficiary …
I want to make sure that there are no mistakes.
Permalink Submitted by Al Fry on Thu, 2008-11-20 19:54
That would be accepted, however the IRS preferred wording is “Susan Doe as beneficiary of John Doe”. They prefer to have the name that matches the SSN listed first.
Permalink Submitted by Bradley Miller on Thu, 2008-11-20 21:41
I appreciate your answer