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I have $4700.00 in my 403b account. I am not currently working for that employer any longer and am currently unemployed but wish to transfer my funds. Can I open 2 seperate Conduit(rollover) IRA accounts with that money, or am I restricted to opening 1 IRA account? Or if anyone has any better suggestions on what to do with my funds i would appreciate it. Thanks
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Greetings, Pedyrn, and welcome. You asked:

<<I have $4700.00 in my 403b account. I am not currently working for that employer any longer and am currently unemployed but wish to transfer my funds. Can I open 2 seperate Conduit(rollover) IRA accounts with that money, or am I restricted to opening 1 IRA account? Or if anyone has any better suggestions on what to do with my funds i would appreciate it. Thanks >>

Yes, you may have that money transferred to as many different IRAs as you wish. There is no restriction on how many accounts you may fund with those proceeds. Be aware, though, that such a procedure will complicate your administration due to multiple statements and probably will increase your administrative expense as well. Unless you have a good reason to do so (i.e., you want to split your money between a broker and/or mutual fund families), it may may be simpler and cheaper to leave it all within one account.

Regards..Pixy
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I know of no reason that you couldn't open up two IRA's


Thinking further I can't think of a reason you would want to.

I could see rolling it all over to an IRA and then rolling a portion over to a Roth IRA for a partial conversion.
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