Inherited SIMPLE IRA from spouse
Two spouses work at the same company and each participate in the SIMPLE IRA (both pre-RMD age). The husband just passed away. Can the wife roll his SIMPLE IRA assets into her SIMPLE account? I know she can do this with a Trad IRA or Roth, but cannot find anything definitive regarding a SIMPLE plan and if there are any nuances.
Thank you!
Permalink Submitted by Alan - IRA critic on Mon, 2023-09-18 23:44
It can be done but it’s a rare transaction and there are some nuances. What is the age of the surviving spouse? Was the husband making SIMPLE IRA Contributions earlier this year?