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#2029786 - 07/26/15 01:12 PM Foreign IRA Beneficiary
Cape Codder Offline
Gold Star
Joined: Jul 2011
Posts: 413
Retirement Services Dept has IRA beneficiary (not a customer) who is a non-resident alien living overseas. How would you recommend this individual be identified before funds are disbursed?
Nothing difficult is ever easy.

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#2029817 - 07/27/15 01:51 PM Re: Foreign IRA Beneficiary Cape Codder
Elwood P. Dowd Offline
10K Club
Elwood P. Dowd
Joined: Aug 2001
Posts: 21,939
Next to Harvey
Making it easy on myself and assuming English is a common language, I would like a photocopy of a passport and the name of the individual's bank. I would like to call to confirm the information on the passport with the bank's information on the individual and send the payment c/o the bank, PUPID. (I just made that up; others may have more relevant experience than I do.)

The fact that it's an IRA only affects one thing that I know of, the withholding you are required to do on the distribution. There is a blurb in Publication 590 and it refers you to Publication 515 for details.
In this world you must be oh so smart or oh so pleasant. Well, for years I was smart. I recommend pleasant.

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