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URL:  http://boards.fool.com/that-is-may-i-combine-my-roth-ira-i-started-when-13448239.aspx

Subject:  Re: Combining Roth IRAs Date:  10/8/2000  11:15 PM
Author:  Mark0Young Number:  40699 of 121179

That is, may I combine my Roth IRA I started when the Roth IRA came into existing almost 3 years ago and a second Roth that was created last year by converting a Traditional IRA to a Roth?

Yes. Contact the custodian of the Roth IRA where you want the money to be, and tell them that you wish to have funds transferred from the other Roth IRA account to it. They should send you the paperwork to request the transfer from the custodian you are leaving.

As long as this is a custodian-to-custodian transfer, there should be no tax nor penalty. However, there might be exit fees or transaction costs with the custodian you are leaving or the investments that custodian is holding for you.

Keep in mind that you can combine only Roth IRAs that are FBO your name; you cannot, for example, combine your Roth IRA with your wife's Roth IRA.

If yes, when does the 5 year clock start ticking for this combined Roth IRA?

My understanding is that the 5-year clock starts with the oldest clock and applies to all Roth IRA accounts with the same For Benefit Of designation, whether the accounts have been combined or kept separate. (This is where it may be handy to save the paperwork of the original contribution or the original conversion.) If I am wrong, hopefully someone will correct this misunderstanding.

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