All Forum Posts by: Hank Hebel

Understood.  Thanks again for all of the advice!

Sorry, but now I'm confused. To get a bit more specific, my dad was a public employee. He had 401a and 403b retirement accounts. After his death, most of that $ was transferred to an inherited IRA brokerage account in my name (with Vanguard). I want to transfer that money in the Vanguard account as a trustee to trustee transfer to another custodian/company. That is allowed, correct?

Apologies for the multiple questions.

A commenter from another message board said what I described above is only allowed if I inherited the IRA from a spouse. I'm assuming that's incorrect? Sorry for the multiple questions.

Awesome, that was my assumption, but I just wanted to verify. I have a slight wrinkle that I forgot to mention. Because my dad's retirement accounts where initially in multiple account types, the vast majority of the money was transferred to the Inherited Vanguard IRA that I mentioned above. However, a small portion has been transferred to me, but is still being held in my name by the custodian that was administering my dad's original retirement funds. I'm assuming that I can also transfer this $ to the new IRA I want to set up, rather than first transferring those funds to the inherited IRA through vanguard and then transferring to the new IRA from there?

Thanks again for the advice, @BrianEastman !

I have a question related to an inherited IRA account. My dad passed away in 2016 and I rolled his retirement accounts into an inherited IRA with vanguard. My question is pretty straightforward: are there any tax implications with rolling the inherited IRA with vanguard into another self-directed IRA account that is managed by another company/custodian? I know that any distributions from my IRA is a taxable event subject to income taxation, but I just want to make sure that transferring from an inherited IRA to a self-directed IRA does not generate unexpected tax implications (because I'm simply transferring between slightly different IRA accounts and custodians and not taking any distributions).

Any help is much appreciated!