spouse beneficiary
Spouse died and named his wife as sole beneficiary on 5 separate IRA’s. Is she exempt from the one per year rollover rule? She does not want to transfer into her name in kind as a couple of the IRA’s have a separate death benefit higher than the account which would be lost.
Permalink Submitted by Alan - IRA critic on Sat, 2015-02-14 17:14
The is no specific exemption of spousal rollovers from the new rollover restrictions, so the process of acquiring ownership should be done via non reportable transfer. I don’t follow the part about the death benefit. Does she not receive the higher death benefit resulting from death of the spouse? Leaving any of the accounts in inherited status is going to substantially increase her RMDs unless she is older than the decedent.