What if I am a beneficiary of an IRA held at optionsXpress?
If you are named a primary beneficiary, or if you are the contingent beneficiary and all named primary beneficiaries are deceased, then you can open a beneficiary IRA. • To open the beneficiary IRA account (choose Traditional or Roth depending on the account type of the decedent). Opening a beneficiary IRA account is not required to take a full one-time distribution from the deceased’s IRA account. • Provide optionsXpress with an original Certified copy of the Death Certificate. • Provide optionsXpress with a complete distribution form for the decedent’s IRA, which will be used to roll the assets into the new account (or as a full one-time distribution paid directly to the beneficiary).
