I have a open ira account and would like to add a second name to the account is that possible?

Question

I have a open ira account and would like to add a second name to the account is that possible?

Answer 1

The "I" in IRA stands for "Individual".

You can not add a second person to the account regardless of who it is.

Answer 2

yes u could just call them & let them know

Answer 3

are u Terry Mckoy?

Answer 4

There are no joint IRA's, but you can add a person as a beneficiary.  In that way, they would receive the balance in the IRA when you died.  It is possible to give someone the money so that they can contribute it to an IRA,

Answer 5

No, hence the "individual" in "individual retirement account". You can  designate a beneficiary to receive the money in the event of your passing, but an IRA cannot be joint. The other person has to open their own IRA.

Per IRS guidelines governing IRA's, there can only be one person on the account.