inherited non qualified annuity
Does a nonspouse beneficiary of a nonqualified annuity have the same option to stretch that account as if it were an IRA. if so could you direct me to the part of tax code that discusses inherited nonqualified annuities?
thanks
Don
Permalink Submitted by mk foss on Thu, 2013-04-04 02:07
The rules for nonqualified annuities vary by provider. Most do not let benefits to a nonspouse beneficiary stretch out more than 5 years but you need to read the annuity contract and contact the provider to see the specific rules that apply in this case.
Permalink Submitted by Don Warnke on Thu, 2013-04-04 11:08
I was aware that some companies did not allow over 5 years to distribute, however what i was trying to determine was what the IRS allowed.