<< You need not have your entire IRA in one investment, nor even with one custodian. As long as you keep your total contribution to $2,000 per year, you can have as many different accounts and investments as you like. >>I've got two different Roth IRA accounts for myself right now, and I'm contemplating opening a 3rd. I'm starting to turn into one of those people who just can't have too many brokers. The first Roth I opened was at Waterhouse, and they got my 1999 contribution. Originally I used it to buy a few stocks, but then they raised the price on limit orders, and I decided to move the money I had in stocks into a couple of their mutual funds. This year I opened a Roth account at Datek using my 2001 contribution, and bought some LTBH stocks using the 10 free trades that they give to new account holders. Next year, I'm probably going to send my 2002 contribution to Financial Cafe, because the free market trades would be good for the MI portion of my portfolio.At some point I might transfer account funds from one custodian to another, in order to consolidate my IRA, for example, if there is a shakeout in the brokerage industry. My biggest worry is whether or not the IRS is keeping track of all this. Presumably they shouldknow everything there is to know about all my accounts, and that I have always kept within my annual limits, because of the fact that each custodian is supposed to report my account info to the IRS. I just don't want any surprises 20 years down the road, like having to produce records of what contribution I made to which account in which year, circa 20 years prior. Please reassure me that theres nothing to worry about. Thanks.
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