Inherited SIMPLE IRA
A SIMPLE IRA owner passes away and his wife is named as the sole beneficiary on the account. Can the spouse, who also has a SIMPLE IRA, roll that over into her own SIMPLE IRA? I know with a traditional or Roth the spouse could treat it as their own, but wasn’t sure about a SIMPLE IRA.
Note- I’m not sure if the deceased spouse met the 2-year holding period.
Permalink Submitted by Anonymous (not verified) on Sun, 2009-11-08 02:48
I am not 100% sure, but as long as that surviving spouse has a SIMPLE, the transfer should work. Worst case scenario: the IRA custodian will force her to accept the money as a tax-free transfer to a regular IRA.
pmk