inherited 401k

Inherited 401(k) Plans and The RMD Age: Today’s Slott Report Mailbag

Thursday, June 10, 2021
Question:How can the beneficiaries of an estate roll a 401(k) paid to the estate to a Roth IRA? What steps must be taken?BobAnswer:Bob,Inherited IRAs cannot be converted to inherited Roth IRAs, but inherited 401(k) plans can be converted. This is an anomaly in the rules, but it is allowed. However, if the 401(k) was already paid to the estate, those former plan dollars cannot be rolled back to a traditional IRA or converted.
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Inherited IRA & 401(k) Accounts: Today’s Slott Report Mailbag

Thursday, April 08, 2021
Question:Hi, I inherited my husband's 401(k) when he died last year. I kept the assets with the 401(k) administrator, believing I had to do that to take distributions without 10% penalty. (I am under 59 ½ years old). If I roll over the 401(k) to an inherited IRA, will I still be able to take penalty-free distributions?Thank youDonna
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