Nope. In my leagues a player must have (I) next to their name to go on IR. They get waived with an injury settlement, owner has to promote them to the active roster or cut them ASAP.
Ours is similar, although I've found in the past waiting for the (I) to show up could take some time. If I see multiple sources confirm the player is done for the year, I will move the player to IR with an (O) designation.
Anyway once he's waived, I move him back to the active roster and the owner can choose to keep him there with the FA* designation that MFL applies, or he can waive him. No IR stashing.