Anyone Get a Transfer Bonus on an Inherited IRA

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MikeG62
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Joined: Tue Nov 15, 2016 3:20 pm
Location: New Jersey

Anyone Get a Transfer Bonus on an Inherited IRA

Post by MikeG62 »

My brother and SIL inherited a low 7-figure IRA (from her Dad who recently passed). My brother called Fidelity and was told that they cannot pay a transfer bonus on the inherited IRA because they cannot add funds to the account. I don't see why they won't pay the bonus to his brokerage account - what difference should it make to them to which account the bonus is posted? After all, what they are after is the funds being invested on their platform. Why do the funds need to be paid to the specific account?

FWIW, I got Fidelity to pay me a transfer bonus when I rolled my former employers 401K (which was already with Fidelity) into a rollover IRA. I only had to suggest I was considering other brokers and they agreed to pay as if it were new money into Fidelity.

The rep he spoke to said no broker will pay a transfer bonus on an inherited IRA.

Anyone have success getting a broker to pay a transfer bonus on an inherited IRA?
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Topic Author
MikeG62
Posts: 3431
Joined: Tue Nov 15, 2016 3:20 pm
Location: New Jersey

Re: Anyone Get a Transfer Bonus on an Inherited IRA

Post by MikeG62 »

Bumping as no response so far
Real Knowledge Comes Only From Experience
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bubblebogle
Posts: 12
Joined: Tue Mar 19, 2019 9:46 am

Re: Anyone Get a Transfer Bonus on an Inherited IRA

Post by bubblebogle »

I have an Inherited IRA I will be transferring as well, so +1 from me.

I did not know you could not add funds to an Inherited IRA, learned something new!
So long, and thanks for all the fish.
johnnyc321
Posts: 99
Joined: Wed Jan 04, 2017 9:24 pm

Re: Anyone Get a Transfer Bonus on an Inherited IRA

Post by johnnyc321 »

Can’t answer the bonus question but am posting to say that it would be odd to add funds to an inherited IRA because you are required to do RMDs immediately.
Penguin
Posts: 617
Joined: Sat Mar 03, 2007 1:52 pm

Re: Anyone Get a Transfer Bonus on an Inherited IRA

Post by Penguin »

I asked Merrill Edge.
Hi!: Thank you for using Merrill Edge! What questions can I answer about opening an account?
You: Can I get a transfer bonus for transferring an inherited IRA to Merrill
Leslie S: Good morning!
Leslie S: I would be happy to assist you today!
Leslie S: Yes, you can certainly qualify for a cash bonus by transferring an Inherited IRA to Merrill Edge.
Jon
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