Non-Spouse Beneficiary Rollover
Definition of 'Non-Spouse Beneficiary Rollover'A retirement plan asset rollover performed in the event of the death of the account holder, where the recipient is not the spouse of the deceased. The most common practice for a non-spouse beneficiary rollover, is that the recipient receives the balance in a one-time lump sum payment, subjecting them to full immediate taxation. |
|
Investopedia explains 'Non-Spouse Beneficiary Rollover'If the funds are rolled over into another retirement account, it must be named as a beneficiary account including both the deceased and beneficiary's names. Many retirement accounts require that the spouse be the sole beneficiary. |
Related Definitions
Articles Of Interest
-
How After-Tax Rollovers Affect Your IRA
Consolidating retirement assets? Make sure you account for pre-tax and after-tax assets separately. -
The Tax Benefits Of Having A Spouse
Check out the perks designed to promote and preserve your post-work savings - if you're married, that is. -
Common IRA Rollover Mistakes
Avoid paying excess taxes by learning some simple transfer rules. -
Combining Your Plan Assets? Not So Fast!
You might reduce the costs of maintaining more than one account, but you could also be forfeiting tax benefits. -
Moving Retirement Plan Assets: How To Avoid Mistakes
Sometimes things go wrong in a simple transfer of funds. Make sure you know how to avoid penalties. -
Tips For Moving Retirement Plan Assets
Moving assets is common when changing jobs or retiring, but you have to do this carefully to avoid penalties. -
Getting A Divorce? Understand the Rules Of Dividing Plan Assets
Learn how different rules of asset handling apply to various retirement plans. -
Did Your Roth IRA Conversion Pass or Fail?
If you are moving assets from a Traditional IRA to a Roth IRA, you need to know the associated tax rules. -
Wealth-Building IRA Rollovers
Rollovers allow your tax-deferred retirement assets to grow, even when the world around you is changing. -
Money Tips To Stretch Your Retirement Nest Egg
Learn the key investment and savings tips you need to ensure your retirement savings last as long as you do.
Free Annual Reports