Author Topic: Ally Bank IRAs  (Read 240 times)

ixtap

  • Stubble
  • **
  • Posts: 155
Ally Bank IRAs
« on: July 13, 2017, 06:34:11 PM »
I just got off the phone with my Mom, who called to vent. They have most (all?) of their IRAs in CDs. Dad decided to roll three if them over to Ally, then promptly left the country on a business trip. So, Mom got a call that she could only roll one over a year. Has anyone else run into this?!

While she was venting, she also informed me that with all of the bank changes over the years, they have lost track of which are ROTH and which are traditional. Now, it is possible that Dad just told her that in order to not tall about it. However, they are well into their 70s, RMDs are a consideration. Is there any way to trace contributions?

I just told her to go ahead and commit tax fraud, then they won't have to worry about housing in their dotage, since it is looking like Medicaid won't be an option.

L.A.S.

  • Stubble
  • **
  • Posts: 248
Re: Ally Bank IRAs
« Reply #1 on: July 14, 2017, 06:09:22 AM »
The 5498 contribution summaries from previous years should tell you what type of account each is.