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Author: GeekFoolBoy One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75638  
Subject: Commingled Roth IRA Followup Date: 11/25/1998 11:05 AM
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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?

-GeekFoolBoy
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Author: TMFPixy Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 6789 of 75638
Subject: Re: Commingled Roth IRA Followup Date: 11/26/1998 11:39 AM
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GeekFoolBoy,

<<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?>>


HOO-RAY! They're finally seeing the light. I don't know of others, but where one goes the rest are sure to follow.

Thanks for the info.

Regards….Pixy


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Author: rlbusby Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 6812 of 75638
Subject: Re: Commingled Roth IRA Followup Date: 11/27/1998 11:14 AM
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[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."]

Great news! I recently sent a letter asking Waterhouse Securities to deposit $2,000 in my traditional IRA (current balance $0) and immediately rollover the balance to my Roth rollover IRA. This should work but it would be far easier to go direct.

Rod

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