Inherited IRA transfer
Jennifer’s mother passed in August 2008. In May of 2009 she processed the paperwork to re-title the account to an “Inherited IRA”. She wants to transfer the IRA to another custodian. Does the 1 year rule apply in this situation? In other words, was the re-titling of the account in May considered a rollover and therefore she cannot consider moving the account for 1 year?
Permalink Submitted by mk foss on Fri, 2009-07-10 18:34
A beneficiary cannot do a rollover so the 60 day limit does not apply. She can switch custodians.
Custodian to custodian transfers are preferable in any case because you never are faced with one per year or 60 day limits.