Can an entity open an inherited IRA?
Can an estate, trust or charity open an inherited IRA and rollover assets from the decedent’s IRA or must they take distributions directly from the decedent’s IRA?
Can an estate, trust or charity open an inherited IRA and rollover assets from the decedent’s IRA or must they take distributions directly from the decedent’s IRA?
Permalink Submitted by Jose Morales on Tue, 2019-07-30 18:38
Yes, an entity can create an inherited IRA. No, they cannot rollover the assets from the deceased’s IRA to the inherited IRA. The assets can only be moved by direct transfer. Only a spouse beneficiary can withdraw funds from their deceased spouse’s IRA and roll the funds over, and only to their own IRA.