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Author: mwyattea Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76398  
Subject: Re: Roll over inherited Keogh into IRA? Date: 5/20/2001 10:59 PM
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The IRS recently reissued proposed regulations concerning minimum required distributions. First thing, only a spouse is eligible to rollover an inherited IRA. HOWEVER, you can maintain your father's IRA on an inherited basis and continue the deferral of taxes on most of the IRA (you will need to take out minimum distributions each year). This was all somewhat murky in the past prior to issuance of these regulations, but the new regs have cleared this up to a much greater extent. In point of fact, an account can now be split among multiple beneficiaries. You are required to take out minimum distributions from your share of the inherited IRA each year, but these are determined over your (much longer) life expectancy.

Here is a link (in all its regulatory infamy) to the proposed regulations;

http://www.benefitslink.com/taxregs/rmd2001.shtml

These regs are fairly recent. You may want to have your father follow up with his IRA custodian and/or estate attorney to make sure that they have brushed up on this process.

As an aside, to you and to all Foolers with retirement questions, you may want to check out http://www.BenefitLinks.com sometime if you have technical questions. The board is free, geared primarily towards practitioners, but the Message Boards are helpful and you'll get advice from people in the business. (Not trying to draw away from Fool, but thought I'd share an additional resource).

Hope this is of help to you.
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