Inherited IRA Application
(Spousal Rollover)
Charles Schwab

This form is used for a spouse to inherit retirement assets.

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When a spouse inherits retirement account assets, they have the right to do what is called a “Spousal Rollover” or “Spousal Transfer.” To complete a spousal rollover at Charles Schwab, you complete an Inherited IRA Application to rollover the funds from the decedent’s IRA to your IRA of the same type.

For example, if the decedent had a traditional IRA, then you would roll the funds over into your own traditional IRA and, if the decedent had a Roth IRA, then you would roll the funds over into your own Roth IRA.

All types of IRAs use the same application, a Schwab Inherited IRA Account Application for Individual Beneficiaries.

This form is prefilled for spousal beneficiaries. You will need one form per IRA the decedent owned.

In Section 1, provide the information for the decedent including the type of account (Traditional or Roth).

In Section 2, enter your existing Schwab IRA Account Number in 2A. If you do not have one yet, select 2B instead, “Transfer the assets to a new Schwab IRA.”

Section 3 is where you fill out your information as an account holder.

On Page 11 in Section 10, you can update your beneficiary designations. You can identify which designations you want to be primary by selecting the “Primary” box and which ones you want to be contingent by selecting the “Contingent” box under “Type of Beneficiary.” At a minimum, you should identify all your primary beneficiaries. If you want to use either the per stirpes or per capita designations on any of your beneficiaries, fill out your application for now without those designations. Then later, fill out this form to Update Beneficiary Designations at Schwab.

Finally, you should sign and date the form in Section 11.