Non Designated Beneficiary – How to Title Account
We will be opening an IRA based on the following facts
1. IRA owner passed away after RBD.
2. Primary beneficary is a trust – accumulation trust, does not qualify for see-through status
3. Contingent beneficary is chairty
Question: Knowing that we use the decedent’s life expectancy and reduce by 1 each year, how is the IRA titled? In the decedent’s name, and if so, what SSN is used?
Or do we use the primary beneficiary (trust – but only child is only income beneficiary) – the son’s SSN?
Permalink Submitted by Alan - IRA critic on Mon, 2017-10-02 16:10
Usual titling format would be “(Name of trust) as beneficiary of (decedent)”, although the custodian might require an equivalent format where the decedent’s name is first. The EIN of the trust is the TIN.