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Author: BGPenhollo Two stars, 250 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75336  
Subject: Re: Roth, SEP, and SIMPLE IRAs Date: 1/27/2000 8:31 AM
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Bill asked...

<<2. I plan to make Roth IRA contributions in future years. Do I need to open a new Roth IRA account for each year that I make the contribution, or do I make future contributions to my original Roth IRA?>>

TMFPixy replied

"No, you do not a new one. You may have one should you want, but that just generates another statement to track, so administratively it's easier just to keep one account."

If you open a ROTH IRA with another fund, does the money in this new fund have to be held for the 5 year holding period? Or can it be assumed to part of the original Roth and the holding period starts at the beginning of the 1st Roth fund?

As I understand it, if I open a fund and make yearly $2000 contribution, the holding period was from the start of the fund but I do not know what happens if I start contributing to another fund later.

BGP

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