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Transfer Roth IRA to Spouse-Does IRS allow?
The spouse who owns the Roth is 53. The other spouse is 63. Can the 53 year old give their Roth to the 63 year old so it can be distributed without penalty?
9 Answers
- Wayne ZLv 74 years agoFavorite Answer
No
Only if the 53 year old is dead and the 63 year old is the beneficiary of the account.
- Bostonian In MOLv 74 years ago
There are only 2 ways to transfer an IRA:
1. As part of a QDRO due to a divorce.
2. By dying.
- ninasgrammaLv 74 years ago
The IRS does not allow this type of transfer. You can name your spoue as beneficiary and if you die before age 59.5, you spouse can take a distribution without penalty.
- EvaLv 74 years ago
No. Contributions to the Roth can be distributed to the 53 yr. old without penalty if they have been in the Roth for at least 5 yrs. Earnings would be subject to penalty.
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- Anonymous4 years ago
Or if a court has ordered a split as part of a divorce.
- StephenWeinsteinLv 74 years ago
Not if they stay married.
However, if they get divorced, then they can transfer it as part of the divorce settlement.
- Anonymous4 years ago
Only by dying.....
