Posted on: 25th Dec, 2006 08:41 pm
I have converted my traditional IRA into Roth IRA in 1999. I have a separate Roth IRA account in the same financial institution. Both the accounts are kept separately. But I am not able to manage both of them. The officials say that the title of my account will be co-mingle Roth IRA. I cannot make out why not just Roth IRA? I a already completed 5 years as is required for the Roth, so what's the difference?
It's perfectly fine if you have converted your traditional IRA into Roth IRA. You can move this Roth IRA to your new employer's 401k plan.
Hi Laurie,
You can commingle both the IRAs into a single account. There will not be any tax consequences as such. The IRAs considers all Roth IRAs as a single IRA. The same is applied with the traditional IRAs. So, you can go with one single account for your IRAs.
Thanks,
Caron.
You can commingle both the IRAs into a single account. There will not be any tax consequences as such. The IRAs considers all Roth IRAs as a single IRA. The same is applied with the traditional IRAs. So, you can go with one single account for your IRAs.
Thanks,
Caron.