Reply #3: It may be too late, but

[rogerashton]

if you roll it into an IRA for yourself it probably is not taxable. Otherwise, it is taxable and the bite may be large.

When my Dad died, the bank person who closed the account never gave us that option as, according to law, she was supposed to. Then the 1099 was sent to -- my Dad's address! But the house was sold and the forwarding had run out, so I didn't know to pay and had to pay a penalty. I'm financially OK, could handle the hit, but my sister, a retired schoolteacher, was seriously set back by it.