Inherited IRA

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
  • Ability to take distributions over your lifetime

Call us at 800-544-0003

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.

May be based on your age or the deceased’s age at the time of death. Penalties may occur for missed RMDs. Most are required to begin by December 31 of the year following the date of death.

Any RMDs due for the original owner must be taken by their deadlines to avoid penalties.
Other withdrawals No tax penalties on withdrawals at any age. Withdrawals may not be rolled back into the inherited account.

Certain decisions must be made within 9 months of the date of death and by December 31 of the year following the date of death.
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
Account fees

There are no opening, closing or annual fees for Fidelity's Traditional, Roth, SEP, SIMPLE, and rollover IRAs.*

Trading Fees2

$0 commission for online US stock, ETF, and option trades

Inheriting a retirement account

If you've inherited an IRA or other retirement account, find out how the specifics of your situation will affect the decisions you need to make.

Watch the video (1:51)

Next steps

Open an account or call a Fidelity Transition Services specialist at 800-544-0003.

Learn about your choices when inheriting an IRA and how to transfer the assets.