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Multiple addresses need to be separated by commas. The body of your email will read: Sharing this page will not disclose any personal information, other than the names and email addresses you submit. Schwab provides this service as a convenience for you. By using this service, you agree to 1 use your real name and email address and 2 request that Schwab send the email only to people that you know.

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It is a violation of law in some jurisdictions to falsely identify yourself in an email. You also agree that you alone are responsible as the sender of the email. Schwab will not store or use the information you provide above for any purpose except in sending the email on your behalf. An Inherited IRA, or a Beneficiary IRA, is an account that is opened when someone inherits an IRA or employee-sponsored retirement plan after the death of the original owner.

Inherited IRAs are typically opened for non-spouse beneficiaries, as spouses can transfer inherited assets directly into their own personal retirement accounts. You do have to take Required Minimum Distributions RMDs from an Inherited IRA, the timing of which is based on the age of the original account holder, and the amount is based on your own life expectancy and the account value.

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However, by only taking out the RMD amount each year, you can continue to grow the financial life of your Inherited IRA, and can pass it in turn to your own future heirs. Open a Schwab Inherited IRA today.

Open an Inherited IRA today. Apply Now or call This tax information is not intended to be a substitute for specific individualized tax, legal, or investment planning advice. Where specific advice is necessary or appropriate, Schwab recommends that trade options in an ira consult with a qualified tax advisor, CPA, financial planner, or investment manager.

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Who is eligible to open an Inherited IRA? Anyone a spouse, non-spouse, or entity who has inherited the assets of an IRA or employer-sponsored retirement plan is eligible to open an Inherited IRA. Eligible IRAs include Traditional, Rollover, SEP, SIMPLE, and Roth IRAs. If I am a spousal beneficiary, can I treat the IRA as my own?

You can transfer the existing IRA into your name and defer distributions until you are required to take the Required Minimum Distribution RMD. Consult your tax advisor for more details.

If I am a non-spouse beneficiary, can I roll over the assets into one of my existing IRAs? Only spousal beneficiaries can treat Inherited IRA assets as their own. If I am a non-spouse beneficiary, can I leave the assets in the existing IRA instead of opening an Inherited IRA?

As a non-spouse beneficiary, you cannot leave the assets in the original account holder's IRA and continue distributions from that account. You can either transfer the assets into an Inherited IRA or take a lump-sum distribution. Can I make additional contributions to an Inherited IRA? Do I have to begin taking distributions for my Inherited IRA right away? Yes, unless you are a spouse beneficiary.

Non-spouse Inherited IRA owners are subject to Required Minimum Distributions RMDsand the options available to you will depend on your situation. Are there rules for taking distributions from my Inherited IRA? If you open an Inherited IRA, certain rules determine when you must take distributions. These rules are based on the type of IRA inherited, the age of the original account holder at his or her death, and the type of Inherited IRA opened.

Take the next step. Helpful Resources Learn more in our Inherited Retirement Account guide. Read more on Inherited IRA withdrawal rules.