Different brokerage accounts for Roth and traditional IRA?

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007
Posts: 2
Joined: Sat Dec 08, 2018 1:16 pm

Different brokerage accounts for Roth and traditional IRA?

Post by 007 » Sat Dec 08, 2018 1:28 pm

Hello,

Im just getting started with Vanguard and would like to know if I need separate brokerage accounts to transfer Roth and traditional Ira accounts to vanguard. Or can I use one brokerage account to accept a transfer of any kind of fund?

I have a Roth 401k, a regular 401k, a Roth Ira, and a simple Ira that I am trying to consolidate and will be transferring all to vanguard.

I spoke to someone from vanguard briefly about setting up an account yesterday and we managed to get a brokerage account set up, but the conversation was cut short by a crying baby of mine that woke up from a nap. Hoping to get this figured out this weekend, but can call vanguard next week if needed to discuss with them. Thanks for any assistance.

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Duckie
Posts: 6061
Joined: Thu Mar 08, 2007 2:55 pm

Re: Different brokerage accounts for Roth and traditional IRA?

Post by Duckie » Sat Dec 08, 2018 5:35 pm

007, welcome to the forum.
007 wrote:Im just getting started with Vanguard and would like to know if I need separate brokerage accounts to transfer Roth and traditional Ira accounts to vanguard. Or can I use one brokerage account to accept a transfer of any kind of fund?

I have a Roth 401k, a regular 401k, a Roth Ira, and a simple Ira that I am trying to consolidate and will be transferring all to vanguard.
You will need to open a Roth IRA for the Roth 401k and Roth IRA rollovers, and a Traditional IRA (possibly titled Rollover IRA) for the pre-tax 401k and SIMPLE IRA rollovers. If you also wanted a taxable account you would also open an Individual account. They all show up on the same screen when online and are reported on the same monthly statement, but they are separate accounts with separate account numbers.

007
Posts: 2
Joined: Sat Dec 08, 2018 1:16 pm

Re: Different brokerage accounts for Roth and traditional IRA?

Post by 007 » Sat Dec 08, 2018 8:46 pm

Thank you.

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