Proper Title of Spousal Inherited IRA
Are the following “ACCEPTABLE” titles for a spouse’s Inherited IRA: [Deceased: Sharon X, Surviving Spouse: Peter X}
- BROKERAGE Peter X -IRA DBA (ORIGINAL DEPOSITOR Sharon X) – FMTC, CUSTODIAN (NOTE: A FIDELITY ACCOUNT)
- FIDELITY INHERITED IRA Peter X – IRA DBA (ORIGINAL DEPOSITOR Sharon X) – FMTC, CUSTODIAN
- Inherited IRA from IRA of Peter X INH IRA BENE OF Sharon X CHARLES SCHWAB & CO INCCUST
While Peter X is over 75, Sharon X would not be 72 until 2030.
Permalink Submitted by Alan - IRA critic on Fri, 2024-12-20 21:03
They are all acceptable. Major brokerages would not use unapproved titling methods or would be contacted by the IRS.
All the IRS cares about is that the decedent and the beneficiary are both shown and which is which. The IRS does not care about all the abbreviations used by the custodians or the order in which the names are listed.