Results 1 to 2 of 2
  1. #1
    Join Date
    Sep 2005
    Location
    New Jersey
    Posts
    1

    Default Is a QDRO needed to split an IRA ?

    My property settlement agreement was approved by the court in NJ this past June. It specifies that I will roll half of my IRA to my spouse but does not mention IRS Code Section 408(d)(6). in the text. An article submitted to this site in the year 2000 * states that a QDRO is not needed for an IRA to be rolled into the other spouse's IRA.

    It also adds that, "to be safe" the settlement agreement should clearly specify that the transfer of IRA funds is required as part of the property settlement that is intended to be tax-free under Internal Revenue Code Section 408(d)(6). Is this still the current rule and situation,- and if I need the code stated in the agreement, can I just re-submit the agreement to the court myself with the change added to the body?

    *Decisions Affecting Divorce - Splitting of Retirement Benefits
    By Clifton G. Lamb, Jr., CPA
    Miod and Company, LLP
    Submitted November, 2000

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    75,004

    Default IRS & IRA's

    Quote Quoting 26 USC 48(d)(6)
    (6) Transfer of account incident to divorce
    The transfer of an individual’s interest in an individual retirement account or an individual retirement annuity to his spouse or former spouse under a divorce or separation instrument described in subparagraph (A) of section 71 (b)(2) is not to be considered a taxable transfer made by such individual notwithstanding any other provision of this subtitle, and such interest at the time of the transfer is to be treated as an individual retirement account of such spouse, and not of such individual. Thereafter such account or annuity for purposes of this subtitle is to be treated as maintained for the benefit of such spouse.

    1. Sponsored Links
       

Similar Threads

  1. Property Division: Deadline to File QDRO
    By LovingFather in forum Divorce, Annulment and Separation
    Replies: 2
    Last Post: 08-15-2011, 03:12 PM
  2. Divorce: QDRO Submittal
    By jochimek in forum Divorce, Annulment and Separation
    Replies: 1
    Last Post: 03-18-2009, 01:23 PM
  3. Legal Malpractice: Problems with a QDRO
    By Jackie2 in forum Malpractice Law
    Replies: 3
    Last Post: 10-11-2008, 03:13 PM
  4. Property Division: Help With QDRO In Louisiana
    By Ilovemyboys in forum Divorce, Annulment and Separation
    Replies: 1
    Last Post: 04-28-2008, 08:11 AM
  5. Property Division: QDRO's
    By Dburk in forum Divorce, Annulment and Separation
    Replies: 1
    Last Post: 11-23-2005, 12:12 PM

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
 
Forum Sponsor
Divorce Lawyer
Facing divorce? Get a free consultation with a local divorce attorney.




Untitled Document