Inherited IRAs

Establishing an Inherited IRA: Why do so?

CWF’s new inherited IRA plan agreements are a valuable product to aid your institution in providing excellent customer service to your accountholders. With language specific to inheriting beneficiaries, both your staff and accountholders will better understand the special rules which apply to beneficiaries. The rules for beneficiaries differ considerably from those of the original accountholder. It simplifies matters for the financial institution, and the inheriting beneficiary(ies), if a new plan agreement is prepared.

Traditional IRA Custodial - Inherited Form # 40-TI Revised 2/08

Traditional IRA Custodial - Inherited Form

This plan agreement booklet set includes beneficiary provisions, disclosure statement, financial disclosures as well as thorough instructions. The application is a 2-part form that includes financial projections on the reverse side.

Purpose of Form: Form 5305-A is a model custodial account agreement that meets the requirements of section 408(a) and has been pre-approved by the IRS. A traditional individual retirement account (traditional Inherited IRA) is established after the form is fully executed by both the individual and the custodian.This account must be created in the United States for the exclusive benefit of an IRA beneficiary who has inherited an IRA because the IRA owner died and designated you as his or her beneficiary.

This form can be imprinted. Call 800-346-3961 for details.

Package contains 25 forms. Call for quantity pricing or for imprint orders

Traditional IRA Trust - Inherited Form # 41-TI Revised 2/08

Traditional IRA Trust - Inherited Form

Purpose of Form: Form 5305 is a model trust account agreement that meets the requirements of section 408(a) and has been pre-approved by the IRS. A traditional individual retirement account (traditional Inherited IRA) is established after the form is fully executed by both the individual and the trustee. This account must be created in the United States for the exclusive benefit of an IRA beneficiary who has inherited an IRA because the IRA owner died and designated you as his or her beneficiary.

This form can be imprinted. Call 800-346-3961 for details.

Package contains 25 forms. Call for quantity pricing or for imprint orders

Traditional IRA Self-Directed - Inherited Form # 42-TI Revised 2/08

Traditional IRA Self-Directed - Inherited Form

Roth IRA Custodial - Inherited Form # 40-RI Revised 2/08

Roth IRA Custodial - Inherited Form

Purpose of Form: Form 5305-RA is a model custodial account agreement that meets the requirements of section 408(a) and has been pre-approved by the IRS. A Roth individual retirement account (traditional Inherited Roth IRA) is established after the form is fully executed by both the individual and the trustee. This account must be created in the United States for the exclusive benefit of a Roth IRA beneficiary who has Inherited a Roth IRA because the Roth IRA owner died and designated you as his or her beneficiary.

This form can be imprinted. Call 800-346-3961 for details.

Package contains 25 forms. Call for quantity pricing or for imprint orders

Roth IRA Trust - Inherited Form # 41-RI Revised 2/08

Roth IRA Trust - Inherited Form

Booklet to open all Inherited Trust Roth IRAs. This plan agreement booklet set includes beneficiary provisions, disclosure statement, financial disclosures as well as thorough instructions. The application is a 2-part form that includes financial projections on the reverse side.

Purpose of Form: Form 5305-R is a model trust account agreement that meets the requirements of section 408(a) and has been pre-approved by the IRS. A Roth individual retirement account (traditional Inherited Roth IRA) is established after the form is fully executed by both the individual and the trustee. This account must be created in the United States for the exclusive benefit of a Roth IRA beneficiary who has Inherited a Roth IRA because the Roth IRA owner died and designated you as his or her beneficiary.

This form can be imprinted. Call 800-346-3961 for details.

Package contains 25 forms. Call for quantity pricing or for imprint orders

Roth IRA Self-Directed - Inherited Form # 42-RI Revised 2/08

Roth Self-Directed - Inherited Form

IRA Beneficiary Designation by Inheriting Beneficiary Form # 61-I Revised 8/07

IRA Beneficiary Designation by Inheriting Beneficiary
Form to make or change IRA beneficiary designations.

This form can be imprinted. Call 800-346-3961 for details.

Package contains 50 forms. Call for quantity pricing or for imprint orders.

Required Distribution Notice for 2008 for Beneficiary Form # 62(version 7) Revised 9/07

Required Distribution Notice for an IRA Beneficiary

IRA beneficiary uses this form to establish a payment schedule that complies with the required minimum distribution rules.

This form can be imprinted. Call 800-346-3961 for details.

Package contains 25 forms. Call for quantity pricing or for imprint orders.

Transfer Funds from Deceased Accountholder to Beneficiary Form # 68 Revised 8/07

Transfer of IRA Funds From Deceased Accountholder to Beneficiary
This form is designed to provide the custodian/trustee and thier data processing department or provider with the data necessary to conform with the IRS Revenue Procedure 89-52.

Purpose of Form: This form is designed to provide the IRA Custodian/Trustee and its IRA data processor, if any, with the information which is needed to comply with the Form 5498 reporting rules as set forth in Rev. Proc. 89-52. The Custodian/Trustee is required to generate a Form 5498 for the current year on behalf of an IRA accountholder who has died during the current year and it is also required to generate a Form 5498 for each beneficiary for the current year and each subsequent year as the funds now belong to the beneficiary. For data processing purposes, the IRA funds of the deceased IRA accountholder should be transferred internally to the inherited IRA account of each beneficiary.

This form can be imprinted. Call 800-346-3961 for details.

Package contains 50 forms. Call for quantity pricing or for imprint orders.

Beneficiary Distribution Notice and Certification Form and Payment Instruction Form # 204 Revised 7/08

Beneficiary's Distribution Notice and Certification Form and Payment Instruction
Form to be used by an IRA beneficiary to elect his or her payout schedule and method of payments for required distributions.

Purpose of Form: An IRA beneficiary who inherits the IRA of a deceased IRA accountholder is required by law to commence withdrawing such IRA funds within certain time deadlines. You are to use this form to instruct us how and when we are to make distributions to you to comply with the rules. What options, if any, a beneficiary has depends upon whether the accountholder died before or on/after his or her required beginning date (RBD) and whether or not his or her spouse was the sole beneficiary.

This form can be imprinted. Call 800-346-3961 for details.

Package contains 50 forms. Call for quantity pricing or for imprint orders.