Ira Rollover After Death
August 30th, 2010
Question: After my ex-husband death I learned that I am a beneficiary of his company sponsored 401K plan.?
Since I am an ex-wife the plan sponsor informed me that I cant rollover the funds into my IRA or 401K but must take it as lump sum. Can anyone commment on this?
Answer: If he died in 2005 they are right. If he died in 2006 you don’t have to do anything until 2007. The new pension bill says that if you are entitled to a distribution and you get it in 2007 you can have it rolled into an IRA and take distributions over the remainder of you life expectancy. A good CPA in your area should be able to help you get this done.
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