The Motley Fool Discussion Boards
Investing/Strategies / Retirement Investing
|Subject: Re: Roth Contributions||Date: 10/1/1998 12:24 PM|
|Author: DownwardSpiral||Number: 5765 of 82247|
See below for exerpts from the thread.
If you look back on the threads on htis board, Pixy has recently confirmed that the conversion to a Roth can be "unconverted"; in fact, even more than once.
If your IRA custodian (in this case Fidelity) will not bend to the new rules, how about this:
1) "Unconvert" your Roth at Fidelity
2) Transfer your IRA to a new custodian that will allow contributions to the conversion Roth
3) Re-convert at the new custodian
4) Make your contributions
In the future, if Fidelity comes around to the new rules, you could then transfer your Roth back to them, if this is your preferred custodian.
GeekFoolBoy worte in part:
So, at this point they won't do anything, but the door is open for them to straighten out the mess at a later date. Hopefully, they will see the error of their ways.
I've posted this as a FYI for anyone who may be considering a conversion to a Roth from a traditional IRA. Had I known Fidelity would not allow additional contributions to the account before I made the conversion, I would have gone with a different broker.
It's those darned unasked questions that get you every time. ;-)
Hang in there. I'm still betting they'll all come around by the end of the year.
|Copyright 1996-2017 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|