Inherited IRA-Split into two investment plans
I have a client who recently inherited an IRA with a $1 million plus balance from a parent.
I want to split the inherited IRA into different inherited IRA investment plans using direct transfers from the current custodian.
Is this okay, or can the client only use one inherited IRA investment plan?
Permalink Submitted by mk foss on Tue, 2011-11-22 17:39
There is no limit to the number of inherited IRAs that can be established. Funds must be transferred to new accounts with the proper designation (name of original owner etc).