Consolidating IRAs Question

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multiham
Posts: 37
Joined: Sun Jan 08, 2017 11:28 am

Consolidating IRAs Question

Postby multiham » Mon Mar 20, 2017 4:49 pm

My wife has the following 4 IRA accounts at Fidelity.
Rollover IRA
Traditional IRA
Rollover IRA
Roth IRA

Is there any disadvantage to combining the 2 Rollover and one Traditional IRA into 1 account?
Does it matter which account I combine them into (In other words should I move the 2 Rollover IRA's into the Traditional IRA account?
We will not touch the Roth.

Trying to combine accounts so we have the necessary $ to buy Premium Class mutual funds at Fidelity.

Thank you.

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Duckie
Posts: 4586
Joined: Thu Mar 08, 2007 2:55 pm

Re: Consolidating IRAs Question

Postby Duckie » Mon Mar 20, 2017 5:39 pm

multiham wrote:Is there any disadvantage to combining the 2 Rollover and one Traditional IRA into 1 account?

No.

Does it matter which account I combine them into (In other words should I move the 2 Rollover IRA's into the Traditional IRA account?

I'd choose to move to one of the Rollover IRAs because if she ever wants to roll that account to an employer plan, some plans are fussy about the source. The IRS doesn't care anymore (it used to) but some plans still only want funds rolled from former employer plans. With the title "Rollover IRA" it makes getting past the fussiness easier.

multiham
Posts: 37
Joined: Sun Jan 08, 2017 11:28 am

Re: Consolidating IRAs Question

Postby multiham » Mon Mar 20, 2017 8:19 pm

Thank you!


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