Inheriting qualified annuities and rolling over into Inherited IRA
A client is the beneficiary on his father’s two qualified annuities. He is able to roll the annuity into an inherited IRA. His father was already taking required distributions. Does he have to open two separate inherited IRAs for each annuity, or can they be combined into one inherited IRA (and distributed over 10 years)? Thanks!
Permalink Submitted by Alan - IRA critic on Thu, 2023-04-20 22:44
He can combine into a single inherited IRA as long as father owned both annuities and was not himself a beneficiary for either annuity.