Skip to main content
No. of Recommendations: 0
I converted my traditional IRA to a Roth Conversion IRA in 1998. At the same time I established a Roth Contributory IRA into which I have been contributing $2,000/yr. I now want to transfer both the Roth Conversion IRA and the Roth Contributory IRA to a new IRA custodian. Is there any compelling reason to keep the the two accounts separate or can I go ahead and combine them into one account?
Print the post Back To Top
No. of Recommendations: 0
Greetings, einbierbitte, and welcome. You asked:

I converted my traditional IRA to a Roth Conversion IRA in 1998. At the same time I established a Roth Contributory IRA into which I have been contributing $2,000/yr. I now want to transfer both the Roth Conversion IRA and the Roth Contributory IRA to a new IRA custodian. Is there any compelling reason to keep the the two accounts separate or can I go ahead and combine them into one account?

There's no reason you need to keep these two accounts separate. Just keep track of the 5 tax-years necessary before you can take the conversion money free of any early withdrawal penalty, and you'll be just fine.

Regards..Pixy
Print the post Back To Top