Retitling an Inherited IRA by Second Beneficiary
I know that an inherited IRA should be titled as follows: “Fred Jackson, IRA (deceased June 19, 2005) F/B/O Sandra Jackson, beneficiary” or “Sandra Jackson, as beneficiary of Fred Jackson, IRA (deceased June 10, 2005”.
How would Sandra Jackson’s daughter, Shirley Jackson, title this Fred Jackson IRA when she receives it as a beneficiary of Sandra Jackson?
Permalink Submitted by Alan - IRA critic on Wed, 2015-02-18 17:18
This could be done in various formats according to what the custodian desires, but the IRS recommended format per the Form 5498 Inst would require “Shirley Jackson as beneficiary of Sandra Jackson” as a minimum. The original owner’s name can be dropped. Dates of death are optional.