This paper evaluates the performance of a 125Mbps Impulse Ratio Ultra-Wideband (IR-UWB) system for cortical implant devices by using low-Q inductive coil link operating in the near-field domain. We examine design tradeoffs between transmitted signal amplitude, reliability, noise and clock jitter. The IR-UWB system is modeled using measured parameters from a reported UWB transceiver implemented in 90nm-CMOS technology. Non-optimized inductive coupling coils with low-Q value for near-field data transmission are modeled in order to build a full channel from the transmitter (Tx) to the receiver (Rx). On-off keying (OOK) modulation is used together with a low-complexity convolutional error correcting code. The simulation results show that even though the low-Q coils decrease the amplitude of the received pulses, the UWB system can still achieve acceptable performance when error correction is used. These results predict that UWB is a good candidate for delivering high data rates in cortical implant devices.