The transfer of an individual’s interest in an individual retirement account or an individual retirement annuity to the spouse or former spouse under a divorce decree or under a written instrument incident to such divorce is not to be considered a taxable transfer made by such individual notwithstanding any other provision of this subtitle, and such interest at the time of the transfer is to be treated as an individual retirement account of such spouse, and not of such individual. Thereafter, such account or annuity for purposes of this subtitle is to be treated as maintained for the benefit of such spouse.

SOURCE: DivorceSource