Skip to main content
No. of Recommendations: 0
My Mom who is 74 was listed as beneficiary from a just recent inherited IRA (her brother). The IRA lost most of its value and my mom would prefer to withdraw the money and pay the associated tax.

The current investment institution sent the following forms to fill and mail back:

IRA Asset Movement Authorization
IRA Distribution Request
Traditional IRA Adoption Agreement


New Account Form (shows name of current instituion)
Investment Acknowledgement Trade Ticket Form (shows name of current Institution)

I called and they told us we would need to fill out all five forms. They need to open an account for my Mom to tranfer the money into and from there she can withdraw the money from. Is this normal practice? Does my mom need to open an account to gain access to the funds? Neither of us are familiar with the process. Any guidance or insights would be welcomed. Thank you for your time and words.

Print the post  


The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.