IRA FBO inherited to TSP?
Moderator: Aitrus
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IRA FBO inherited to TSP?
Wife is a fed for 3 more months.
She inherited an IRA FBO from her dad. It was NOT a Roth.
Could it be rolled over to her TSP account?
Thanks!
She inherited an IRA FBO from her dad. It was NOT a Roth.
Could it be rolled over to her TSP account?
Thanks!
Re: IRA FBO inherited to TSP?
https://www.tsp.gov/tsp-basics/move-money-into-tsp/
But since the IRA is inherited, she likely cannot roll it over to anything other than an inheritied IRA. Reason being, there are rules in place that the money MUST be withdrawn over a certain number of years.
But since the IRA is inherited, she likely cannot roll it over to anything other than an inheritied IRA. Reason being, there are rules in place that the money MUST be withdrawn over a certain number of years.
Owner/creator of TSPcalc.com - "Know your numbers"
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- Posts: 3
- Joined: Thu Oct 24, 2024 5:51 pm
Re: IRA FBO inherited to TSP?
Well, I called thrift helpline today. The guy said he had no idea but his guess was yes they could.
I was more confused after calling them.
I have a tendency to agree with you MJ.
I was more confused after calling them.
I have a tendency to agree with you MJ.
Re: IRA FBO inherited to TSP?
No, you can't roll over a Inherited IRA into anything but an inherited IRA (not TSP, tIRA or Roth). If it was recent (Since Secure Act, 2020 or later), it has to be withdrawn within 10 years. You can withdraw the money and invest in brokerage or fund your Roth accounts if you have earned income and are below the income limits for Roth.
FYI: To Transfer an inherited IRA from one institution to another, you need to have the deceased person SSN & Date of Death
FYI: To Transfer an inherited IRA from one institution to another, you need to have the deceased person SSN & Date of Death
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