I'm seeing conflicting information on an issue that effects a prospective client.
Husband and wife are Canadian citizens and residents. Previously, they lived and worked in the U.S. He has an IRA which was funded with a direct rollover from his U.S. employer's 401(k) plan.
The wife is the primary beneficiary. Upon husband's death, will she be required to distribute the entire IRA or does she have options such as rolling his IRA to her name or "stretching" his IRA?
Husband is taking RMDs as his is in his 70s.
Any reference to IRS documents dealing with non-resident/non-citizen beneficiaries would be appreciated.
Thank you!
IRA Beneficiary is Not a U.S. Resident or Citizen
Moderator: Mark T Serbinski CA CPA