Managing IRA Beneficiary Distributions
Paying out to beneficiaries after an IRA owner dies isn’t as straightforward as paying out to IRA owners when they take distributions. There are more options and rules to keep track of to ensure that IRA beneficiary distributions are carried out correctly.
Between the time you learn that an IRA owner has died and the eventual depletion and closing—or moving—of the IRA, there are many steps. Without the proper workflows in place to handle beneficiary claims—especially the more complex ones—the job can be cumbersome and time-consuming. Fortunately, it doesn’t have to be that way.
Paperless Workflow Saves Time
An online processing system, like Ascensus’ IRAdirect®, can help you better manage the IRA beneficiary claims process. Its Fully-Administered Program removes the complexity—and most of the work—of administering IRA beneficiary claims and payouts.
IRAdirect makes managing IRAs simpler and more efficient. How? By eliminating paper forms and applying regulatory compliance logic. This is even more advantageous when handling beneficiary distributions. From the first task of obtaining a copy of the death certificate, the IRAdirect Death Notice Wizard takes you step-by-step through the entire process of handling beneficiary distributions.
Visit ascensus.com to learn more about our Fully-Administered Program.
IRAdirect® is a registered trademark of Ascensus, LLC.
