Spousal IRA (Death benefit)
I am requesting guidance with the following fact pattern. Any help is appreciated.
T-IRA account owner died – surviving spouse is beneficiary – invested in an annuity
Is it okay to establish spousal IRA just taking the death benefit and fund the spousal IRA with that?
Thank you
Permalink Submitted by Alan - IRA critic on Thu, 2014-03-06 20:37
Yes, that is OK assuming the annuity had not been annuitized. Any year of death owner’s RMD must be completed by the surviving spouse.