You are able to transfer an inherited retirement plan to Betterment through a process called a trustee-to-trustee transfer. Your current provider will send us a check directly, for your benefit. We will assist you throughout the whole transfer and setup process, so if you’d like to get started, please email us at email@example.com.
In order to create your inherited IRA at Betterment, and generate the necessary transfer paperwork, include the following information in your email:
- Name of current provider
- Type of IRA (Traditional or Roth)
- The IRA account number at the current provider
- Indicate "full" or partial transfer, and the exact amount to transfer if partial
- Name of original IRA account holder
- Since we are opening a new account type, you’ll need to review our Customer Agreements found in our Legal Directory and give consent by writing "I agree to the customer agreements”
Once we have this information, we can set up an inherited IRA and draft authorization letters for the transfer.
Though the IRS allows it, estates, trusts, and charities cannot currently be owners of an inherited IRA at Betterment.