Get Inherited Ira Application For Individual Beneficiaries - Charles Schwab

This guide provides a comprehensive overview of the steps necessary to complete the Inherited IRA Application for Individual Beneficiaries through Charles Schwab. Whether you are new to this process or just need a refresher, this guide will assist you in filling out the application accurately and efficiently.

Follow the steps to complete your application successfully.

1. Press the ‘Get Form’ button to acquire the application form. This will open the document in a suitable online editor for your convenience.
2. Begin by filling out the Original Account Holder Information (Decedent). Provide the full name, social security or tax ID number, account number, dates of birth and death, and specify the type of account the decedent held.
3. In Section 2, indicate your account instructions based on your relationship to the decedent. Choose the appropriate option for the transfer of assets, including options available solely for spouse beneficiaries.
4. Complete your information in Section 3. Input your name, relationship to the decedent, contact details, social security number or tax ID, and any additional requested information.
5. Proceed to Section 4 to state your overall investment objective for the inherited IRA and select your investment strategy.
6. In Section 5, consent to the terms of Schwab’s Cash Features Program if applicable, confirming your understanding of the associated details.
7. In Section 6, opt for paperless document delivery by providing your email address and understanding the requirements related to receiving electronic notifications.
8. Fill out the Tax Withholding Election in Section 7. Make your selections regarding federal and state income tax withholding.
9. If applicable, indicate your distribution instructions in Section 8, opting for either a lump-sum distribution or decedent’s required minimum distribution.
10. Designate your beneficiaries in Section 9 by filling out the details for both primary and contingent beneficiaries. Ensure the percentage shares add up to 100%.
11. Finally, sign and date the Authorization to Open Account in Section 10. If there is a resigning custodian, ensure the appropriate sections are completed and witnessed.
12. After completing the application, you can save your changes, download the form, print it for your records, or share it as needed.

Get started on completing your Inherited IRA Application online today.