How to Transfer a Roth IRA From a Husband to a Wife
A Roth IRA is transferable to a spouse upon the death of the IRA owner. A wife is able to assume the IRA as her own after her husband dies. However, there may be some confusion about the tax-free status of the inheritance. Just like a traditional IRA, the assets in the Roth are counted in the entire estate value. In the case of inheriting a Roth IRA, the wife is not required to take distributions nor is she required to pay income taxes on distributions.
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Instructions
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Meet with the IRA custodian where your husband's IRA is held. This may be a bank or brokerage firm. If the account is not conveniently located, you can perform all tasks over the phone and through the mail.
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Provide the IRA custodian with a copy of the death certificate and your identification. Confirm that you are the rightful beneficiary (this is required in most states unless a waiver was signed).
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Ask the custodian what paperwork is required for you to assume the IRA. If you already own a Roth IRA, you can transfer your husband's Roth into yours by completing a transfer form accompanied by a beneficiary benefits form. If you don't have a Roth IRA, you may be able to change the name of your husband's IRA at the custodian's discretion or open a new Roth and conduct the transfer.
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4
Complete all required paperwork for the custodian. Sign and submit the forms along with the death certificate. It take approximately three to six weeks to complete a transfer.
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