Beneficiary of Qualified TSA account
Hi,
I recently submitted a death claim for as the beneficiary of my mothers qualified TSA account.
They had told me that the account was non qualified and the taxable gain was $8,000.00. So I chose
the lump sum option, willing to pay the tax on $8,000,00. However after further inquiring I found out it was a
qualified TSA. I called the annuity co. to stop the claim form that I already mailed. I asked for something in writing to confirm my request.
They said they could not do that. However the phone conversation was recorded. If I get a check in the mail, (having lost faith in this Co…) Can I rescind it, send it back, have them
stop payment or whatever? I now want to receive it as a stretch IRA over my lifetime.
Thank You,
Paul
Permalink Submitted by Alan - IRA critic on Mon, 2019-04-22 18:00
You can try. The plan is required to do a direct rollover to an inherited IRA if you request that, but they may not cooperate and accept responsibility for this miscommunication and resulting distribution. It can’t hurt to try however, but you will probably need some clear documentation that they told you the plan was not qualified.