Re: Inherited IRA trust
Expert Alumni

Retirement tax questions

As tagteam asked, can you clarify what role you play in this scenario?


Are you the Trustee?  


You will need an EIN for the Trust if you don't already have one (one wasn't needed up until now) if you answer YES to any of the questions in this IRS link.  (ie, the trust you are referring to is no longer a grantor (revocable) trust)  The link will take you to that application when you choose YES to that question.  Do I need an EIN?


Conduit trusts are trusts distribute IRA distributions (and RMDs) to the trust beneficiaries.  


A Form 1041 will need to be filed, and the 1099R will be entered as a distribution within the trust.  The Trust will then distribute the IRA proceeds to the Beneficiaries.




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