Combining Inherited IRA’s
Hello–
A client of mine is inheriting two IRA’s (held at different custodians) from his deceased mother. When we are transferring them to the Beneficiary IRA, can we combine them into one Bene IRA?
Thanks.
Hello–
A client of mine is inheriting two IRA’s (held at different custodians) from his deceased mother. When we are transferring them to the Beneficiary IRA, can we combine them into one Bene IRA?
Thanks.
Permalink Submitted by Alan - IRA critic on Thu, 2015-09-03 19:41
They can be combined if his RMD divisors are the same. The RMD divisors would not be the same for example if he inherited one IRA that his mother owned, but the other IRA on which his mother was the beneficiary (eg mother first inherited it from a spouse or sibling). Another situation where the RMD divisor would not be the same would be if he was the only beneficiary on one of the IRAs but was one of multiple beneficiaries including an older beneficiary on the other and separate accounts were not established for each beneficiary by the deadline.