IRA Annuity Trustee Transfer
If an IRA Annuity has a single owner (Husand) but a joint annuitant which is his spouse, can you trustee transfer that IRA to another IRA Annuity in which the husband is the sole owner and sole annuitant without it being a taxable event. I know with 1035X of a Non-qualified annuity it would have to be like titling and annuitants. Does it work the same or differently for an IRA?
Secondly, if we decide to remove the spouse as the joint annuitant of the IRA annuity before transferring to the new IRA annuity, would that be a taxable event?
Permalink Submitted by Alan - IRA critic on Fri, 2025-05-30 19:01
A change of annuitant to the individual IRA owner should not be taxable event, whether done at the current insurance company or the new one. However, it would be best to check with the new company to determine if this is best done before the direct transfer, at the time of the transfer, or after the transfer.