Look Thru Trust as IRA bene
I had read some past posts regarding how the Bene IRA should be titled when establishing via a look thru Trust. Assuming the IRA owner was Ben W Smith and his prim bene was the Ben W Smith Trust Dtd 1/1/11. I have never seen the Trust name within the new Bene IRA title only that of the deceased IRA account owner. Does it matter? I realize if multiple bene’s are in Trust the oldest bene’s DOB is used for all for future RMD’s and thought maybe that was why its important or required to have Trust in title of Bene IRA.
Permalink Submitted by Alan - IRA critic on Tue, 2017-09-26 23:22
The beneficiary IRA should be titled “Ben W Smith Trust as beneficiary of Ben W Smith” or similar in the event that the IRA custodian’s processing platform requires a variation of this. Note that the 1099R will be issued to the trust EIN, at least as long as the trust continues.