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Re: Inherited IRA

Newbie

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I am an Australian Citizen and just inherited from my late husband (dual citizen of Australia and US) his IRA held in the States.  For tax purpose, I am a NRA for the US.  Do you know of any clause in the US/Australian treaty on how the distribution of the IRA will be taxed in the States.  Thanks for your help

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Most helpful response

ATO Community Support

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Hi @Susy,

 

I'm sorry to hear of your husband's passing. In relation to inheriting his IRA in the US, you can speak directly with the IRS, they will advise you of your tax obligations overseas. You can also google 'receiving an inheritance from an IRA'.

 

Meanwhile, you can check out the information on our website about inherited assets, and how they'll be looked at for tax purposes here. If this doesn't answer your question, you can contact our early engagement team. They'll provide you with a written response about your specific circumstances.

 

You can also view our information on International tax agreements.

1 REPLY 1

Most helpful response

ATO Community Support

Replies 0

Hi @Susy,

 

I'm sorry to hear of your husband's passing. In relation to inheriting his IRA in the US, you can speak directly with the IRS, they will advise you of your tax obligations overseas. You can also google 'receiving an inheritance from an IRA'.

 

Meanwhile, you can check out the information on our website about inherited assets, and how they'll be looked at for tax purposes here. If this doesn't answer your question, you can contact our early engagement team. They'll provide you with a written response about your specific circumstances.

 

You can also view our information on International tax agreements.