Guardian IRA

(redirected from Guardian Individual Retirement Account)

Guardian IRA

An IRA created and administered on behalf of a minor or mentally incompetent adult by a legal guardian. The IRA is registered in the name of the minor, but the guardian is responsible for all paperwork. When the minor reaches adulthood (either 18 or 21 years of age, depending on the state), he/she must complete necessary paperwork recognizing him/her as the administrator of the IRA.