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I want to open a ROTH IRA in my online broker account by transfering a current security. I have received two answers concerning this from my broker. One said I could transfer the security to open the account and another said I could not.

If anyone has some experience (or knowledge) with this I would surely like to hear from you.

Thanks
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I want to open a ROTH IRA in my online broker account by transfering a current security.

IRS publication 590 can give you a more detailed answer, but Roth IRA's can only be funded with cash. What type of account do you currently have with your broker? Is it just a regular brokerage account? If so, then the security cannot be transfered.

Or you could check out the Fool's IRA section:

http://www.fool.com/money/allaboutiras/allaboutiras.htm?ref=G02C05

HTH

BmF
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