Lost, missing , original IRA documents
I have been taking annual RMD’s on an IRA I inherited from my Father in 1988. I want to do a “Trustee to Trustee” transfer to a new custodian – jp morgan chase brokerage, but I’ve lost the original documents. I do not have the original IRA statement, or, the IRA Beneficiary designation form naming me as bene. RMD’s have gone smoothly for 27 years. Will switching custodians raise cause for scrutiny and require that I supply original documents ? I do not want to upset the account [open a can of worms!] The original bank that held the IRA does not even exist any longer. Please advise. THANK YOU !
Permalink Submitted by Alan - IRA critic on Tue, 2016-02-23 17:07
You will have to ask JPM what they require for you to open an inherited IRA there. They shouldn’t care about original documents, but they may want to see a current inherited IRA statement which should show the registration on your inherited TIRA. They may also accept a copy of the 1099R you get every year for your RMD as that should show the registration of the inherited IRA. Whatever divisor you have been using for RMDs will just continue with a reduction of 1.0 each year.
Permalink Submitted by ellen dawmdellipizzi on Tue, 2016-02-23 17:23
What is TIRA ? What is registration on inherited TIRA ? THANK YOU !
Permalink Submitted by Alan - IRA critic on Tue, 2016-02-23 18:35
Traditional IRA, that is the type of IRA you inherited. Registration is how your inherited IRA is titled. The registration should show both your name and the name of your father. Two formats that are likely used would be either “Bill Jones, deceased xx/xx/1988, Ed Jones beneficiary” or “Ed Jones as beneficiary of Bill Jones”.Look at your 1099R – what is the payer’s name on the form?