Inherited IRA definition

Inherited IRA means an individual retirement account described in Section 408(a) of the Code inherited by a beneficiary.
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Inherited IRA means an individual retirement account described in Section 408(a) of the Code, an individual retirement annuity described in Section 408(b) of the Code (other than an endowment contract) or, for Plan Years beginning in or after 2010, an individual retirement plan described in section 408A of the Code (sometimes referred to as a ▇▇▇▇ ▇▇▇) established for the purpose of receiving the distribution where the individual retirement account or annuity or ▇▇▇▇ ▇▇▇ is treated as an inherited individual retirement account or annuity within the meaning of Section 408(d)(3)(C) or, as applicable, Section 409A(d)(3)(B) of the Code.
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Inherited IRA means an IRA maintained for an Investor's beneficiary other than the Investor's surviving spouse.
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Examples of Inherited IRA in a sentence

  • To determine the minimum required distribution amount for a given year, the IRA balance (i.e., generally the fair market value of the Inherited IRA on December 31 of the preceding year) is divided by the applicable denominator.

  • Rollovers to an Inherited IRA must be sent directly from the plan administrator to the Inherited IRA Custodian.

  • In the case of an Inherited IRA, the Depositor is the original owner of the inherited assets.

  • Employer Retirement Plan-to-Traditional IRA Rollover (by Inherited IRA Owner).

  • Inherited IRA Owner means the individual for whose benefit the account is maintained as a result of acquiring such assets by reason of the death of another individual (other than a spouse).

  • A wrongful IRS levy of assets from an IRA (including an Inherited IRA) or an employer-sponsored retirement plan that are returned to the taxpayer may be rolled over to an IRA (including an Inherited IRA) by the tax return deadline (not including extensions) for the year the assets are returned.

  • Eligible rollover distributions from a deceased participant’s qualifying employer retirement plan(s) may be directly rolled over by a nonspouse beneficiary to an Inherited IRA.

  • Eligible rollover distributions from a deceased participant’s qualifying employer retirement plan(s) may be rolled over by a nonspouse beneficiary to an Inherited IRA.

  • Inherited IRA Owner means the individual for whose benefit the account is maintained as a result of acquiring such assets by reason of the death of another individual.

  • The applicable deadline by which the Inherited IRA must be depleted by a successor beneficiary is generally the end of the tenth calendar year following your beneficiary’s death or earlier, depending on the circumstances.