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Subject:  Consolidating qualifying plans Date:  9/20/2000  5:14 PM
Author:  Irma Number:  40192 of 127613

I have a Rollover IRA and two Keogh accounts (Profit Sharing and Money purchase)at Fidelity. I ws planning to rollover the Keogh accounts into the Rollover IRA in order to consolidate my accounts (I no longer contribute to my Keogh accounts). I called Fidelity to obtain clarification re their transfer forms, and I was told that since I am transfering all the assets I would be terminating the Keogh plans. According to their representative all financial institutions are waiting for an IRS opinion regarding the amendments submitted to these plans (requested by the IRS), and therefore termination of the plans at this point would happen in limbo. I was advised to wait until the IRS sends an opinion letter re the amendements. Any information/advise as to what is going on? Are other financial institutions in the same situation or is this a specific problem with the Fidelity plans?
Thanks in advance for any information.
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