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|Subject: Commingled Roth IRA Followup||Date: 11/25/1998 11:05 AM|
|Author: GeekFoolBoy||Number: 6765 of 77872|
A while back I had a couple of posts regarding the commingling of contributions with a Roth Conversion IRA. At the time, my broker (Fidelity) did not allow additional contributions to be made to converted Roth accounts (Roth accounts created from conversion of traditional IRA's). However, I just followed up with them about changing their policy and got this response:
"We currently maintain two separate account registrations for Roth Conversion IRAs and Roth Contributory IRAs, and we are not accepting
contributions to Roth Conversion IRAs. However, the recently passed "technical corrections" legislation and proposed IRS Roth IRA regulations present an opportunity to create a commingled Roth IRA, which would accept both annual contributions and conversions. Final details are still being determined, but Fidelity plans to transition to a commingled Roth IRA registration in early 1999."
So, good news on that front. Does anyone know of other brokers out there instituting such an enlightened policy?
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