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  1. #1
    Join Date
    Sep 2005
    New Jersey

    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
    Behind a Desk

    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.

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