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Does Illinois allow IRA beneficiaries to name successor beneficiaries? – IBA Compliance Connection

IBA Compliance Connection

Your go to source for compliance!

Does Illinois allow IRA beneficiaries to name successor beneficiaries?

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If your account agreement does not prohibit the beneficiary from naming a second beneficiary, we believe the beneficiary may do so. We are not aware of any law or rule that prohibits an IRA beneficiary from naming a successor beneficiary.