IRA owned by non-resident alien

Submitted by ANTHONY MERCER on Mon, 2017-05-01 18:12

Does anyone know of any custodians that will allow a non resident alien who inherits an IRA to keep the IRA open indefinitely?

I am with Scottrade at the moment and they say that the IRA can, indeed, be inherited by a non resident alien but that NRAs cannot hold an account and they would have to close it and pay out all funds, with a 30% tax withholding. In order to avoid this, I would like to find a custodian that will allow the account to remain open so that my beneficiary can enjoy the benefits of an IRA and make withdrawals at will (as limited by RMD requirements).

Any help would be greatly appreciated.



Submitted by Bruce Steiner on Tue, 2017-05-02 16:43

  • There are some that will allow a nonresident alien to have an inherited IRA.
  • Alternatively, you could leave the IRA in trust rather than outright, with trustees in the United States
  • Bruce Steiner

Add new comment

Log in or register to post comments

Sign up to receive The Slott Report each week