Inherited IRAs are specifically designed for retirement plan beneficiaries—those who have inherited an IRA or workplace savings plan, such as a 401(k).
Benefits of an Inherited IRA
- Continue the retirement account's tax-deferred growth
- No immediate income tax impact
- No tax penalties on withdrawals at any age
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We recommend calling a Fidelity Transition Services specialist to help guide you through the process, in addition to consulting your attorney or tax advisor.
|Earnings||Any earnings grow federal income tax-deferred or tax-free.|
|Fidelity minimum to open||None; transfer any inherited amount.|
|Required minimum distributions (RMDs)1||
Vary by a number of factors, including your relationship to the deceased.
See the rules for your required distributions.
Any RMDs due for the original owner must be taken by their deadlines to avoid penalties.
|Unique advantage for inheritors||Provides the opportunity to continue the tax-advantaged growth of an inherited retirement account.|
|Investment options||A wide range of mutual funds, stocks, bonds, ETFs, and FDIC-insured CDs|
|Support and guidance||
Inheritor Services specialists to help you through the transfer process
Ongoing, one-on-one guidance—in person, online, or over the phone
Research and tools to help you create a long-term plan and choose investments
There are no opening, closing or annual fees for Fidelity's Traditional, Roth, SEP, SIMPLE, and rollover IRAs.*
$0 commission for online US stock, ETF, and option trades
Once we receive your notification, we can restrict accounts and the inheritance process can begin.