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Financial Planning / Tax Strategies
|Subject: Re: RMD for decedent||Date: 12/20/2012 2:54 PM|
|Author: Hohum777||Number: 117176 of 121061|
This doesn't make any sense. I could see requiring the death certificate to establish the inherited IRA, but what earthly need would the custodian have for it when the beneficiary wants to make a withdrawal? Sounds like just another financial "service provider" who forgot whose money it is.
Rule Your Retirement Home Fool
There are some crazy requirements occurring on the brokerage side.
I opened an educational IRA in October 2012 at a brokerage (I have had a taxable account with
the same brokerage for 12 years, plus I opened another educational IRA account for another family
member there going on three years now). I had to enter my SS# when I established this new educational IRA.
About a month later the brokerage contacted me and indicated I need to provide my SS# and other data.
I responded via email that I have an existing account with the brokerage and they should use
data from that account as validation. Quiet for about three weeks. Then, this week I received a
more strongly worded email- "provide SS# and other data or lift security freeze on a credit
bureau for us to validate, otherwise ..." I called them up, talked to a live person and they indicated
it was a new requirement. I have never had to validate data about myself when I have
previously opened accounts, IRA or otherwise.
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