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Author: Mark0Young Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 79074  
Subject: Re: Separation of '03 and '04 Roth Accts Date: 2/27/2004 3:29 PM
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The custodian has to know which tax years the contribution(s) is(are) for.

However, once the money has been contributed to a Roth IRA, there is no need for separate accounts.

The only reasons I can think of for separate accounts are:

1. Different types of investments that are better handled by different custodians (e.g., mutual funds at the mutual fund family, stocks at a discount trader).

2. Different beneficiary designations.

3. Maybe if one wants to start 72(t) SEPP (substantially equivalent periodic payments) withdrawals on just part of the money in an IRA, so one can move the investments one wants to use for SEPP to a separate account so only that account would be considered for SEPP payments and the rest would remain invested.

If there are other reasons, they don't come to mind.

But you don't need separate accounts just because the contributions were for separate tax years.
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