Inherited IRA - multiple beneficiaries

Tracy_8 · Post by **Tracy_8** » Tue Jul 30, 2013 8:49 pm

My father - a US citizen passed away, leaving 4 Canadian beneficiaries one of his IRAs (value of $39K). We were told by Morgan Stanley,who holds the IRA that an ITIN number was required before they would disburse the 4 equal shares. 3 of us have obtained and submitted the W-8BEN forms stating the ITIN numbers, and 1 has not yet gone through the lengthy process of obtaining their ITIN number. Morgan Stanley is just now telling us they will not disburse the funds until all beneficiaries submit the W-8BEN paperwork complete with ITIN. Do you know if this is a standard rule for disbursing IRA inherited funds? I could not find any such indication of that rule in researching inherited IRAs. I appreciate any insight.

siamon · Post by **siamon** » Wed Jul 31, 2013 1:26 am

There are professional websites which enlist the work to be done briefly with the base price they are expecting and the time frame with in which you need to complete the work. The skills required here would be of varied nature and many a times it would be of high skilled work also. The earning potential will be more but you need to be dedicated to the job as they will have dead lines before which you need to complete the job.
It is always advisable to check and cross check multiple times with friends, persons who have already done the job about the credibility of the company, on-time payment, etc. and only than take up the job.

nelsona · Post by **nelsona** » Wed Jul 31, 2013 8:10 am

There is no such "rule". n fact the W-8ben doesn't require ITIN. Youe Cdn SSN would be sufficient.
That said. morgan stanley can have ts own rules.

nelsona · Post by **nelsona** » Wed Jul 31, 2013 6:35 pm

That said, if you don't mind having more withheld now, and then file a 1040NR to get some back later, I don't see why MS would hold back all the money