Inherited IRA

An inherited IRA is an IRA passed from the deceased owner to his or her beneficiary. There are many inherited IRA rules to follow, however, most of the time financial institutions don't discuss the inherited IRA rules. Resources on inherited IRA are harder to find than for traditional IRA, Roth IRA, SEP IRA or SIMPLE IRA.

When an IRA is inherited, there are many tax implications and things that beneficiaries of inherited IRA accounts should be informed of. If the inherited IRA rules are not followed and withdrawl of inherited IRA assets takes place, the beneficiary of the inherited IRA could find himself or herself owing the IRS unnecessary taxes and penalty. If a spousal IRA is inherited, the same inherited IRA rules apply.

This Inherited IRA and Inherited IRA Rules website is periodically updated to bring you more resources on inherited IRA, inherited IRA rollover, and what to do with inherited IRA accounts.  If you have questions or comments, please use our contact form.