Designated Beneficiary
Definition A designated beneficiary is an individual (person) beneficiary whose is designated as beneficiary of a qualified plan account, 403(b) account, 457(b) plan or IRA,
February 28, 2009
There is no official guidance on whether an IRA contribution can be made to a decedent’s IRA (that is, a contribution being made to an individual’s IRA after the individual dies). The only indication of the IRS’ position on this matter is private letter ruling (PLR) 8439066, in which the IRS ruled that the decedent’s estate could not contribute to the decedent’s IRA for the year of death, if the contribution is being made after the individual died. Obviously, had the IRA owner contributed the amount before death, it would have been OK .
Definition A designated beneficiary is an individual (person) beneficiary whose is designated as beneficiary of a qualified plan account, 403(b) account, 457(b) plan or IRA,
Definition The beneficiary 10-year rule is the maximum period that certain beneficiaries may keep inherited retirement accounts in a beneficiary account. Watch/listen to a video
Definition For beneficiaries who inherit retirement accounts, a common question asked is “What is the 5-Year Rule for beneficiaries?” The beneficiary five-year rule is the
An eligible designated beneficiary is a designated beneficiary who, at the time of the IRA owner or plan participant’s death, is : A. the surviving
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