Inherited IRA

Inherited IRAs are specifically designed for individuals who have been named as a retirement plan beneficiary including those who have inherited an IRA or workplace savings plan, such as a 401(k).

We realize that inheriting assets may be stressful and recommend calling us to help guide you through the process, in addition to consulting your attorney or tax advisor.

If you are the spouse of the deceased account holder, you are eligible to move the assets into your own IRA. Call us for more information.

Account details

Earnings

  • Any earnings grow federal income tax-deferred or tax-free

Minimum to open

  • There is no minimum. Any inherited amount can be transferred

Required Minimum Distributions (RMDs)

  • Vary by a number of factors, including your relationship to the deceased
  • May be based on your age or the deceased’s age at the time of death. Penalties may occur for missed RMDs. Most are required to begin by December 31 of the year following the date of death
  • Any RMDs due for the original owner must be taken by their deadlines to avoid penalties

Other withdrawals

  • No tax penalties on withdrawals at any age. Withdrawals may not be rolled back into the inherited account
  • Certain decisions must be made within 9 months of the date of death and by December 31 of the year following the date of death

Account benefits

  • Unique advantage for inheritors
  • Provides the opportunity to continue the tax-advantaged growth of an inherited retirement account

Investment options

  • A wide range of mutual funds, stocks, bonds, ETFs, and FDIC-insured CDs

Support and guidance

  • One-on-one guidance along with research and tools to help you create a long-term plan and make investment selections for the plan

Note: Information deemed accurate but not guaranteed. All investing is subject to risk, including the possible loss of the money you invest.

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