PLR 201931006: Decedent IRA Not Inherited IRA

In PLR 201931006, the IRS concluded that an IRA inherited by a surviving spouse was not an inherited IRA under Code Sec. 408(d)(3)(C).

The IRA lacked a designated beneficiary. However, the IRA custodian provided that in such cases, with no designated beneficiary, the IRA would be payable to the decedent’s estate.

Here, the taxpayer was the sole heir and administrator of the deceased spouse’s estate and, therefore, inherited the IRA. The taxpayer intended to distribute the IRA to the estate and, as the administrator of the estate, would pay the proceeds of the IRA to himself.

Click PLR 201931006: Decedent IRA Not Inherited IRA to see full PLR 201931006.

Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal..

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