Author Topic: Consolidating multiple Roth IRAs  (Read 801 times)


  • Bristles
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Consolidating multiple Roth IRAs
« on: January 25, 2019, 08:50:54 PM »
I did a Roth conversion in 2011 because I had very little income. (Wife did one in 2012) I did another small conversion in 2013 and created a new account because it seemed prudent to keep the funds separate to keep them on different 5 year clocks. Have not done any conversions since.  Now both accounts have been untouched for more than 5 years and I am ready to do another Roth conversion and will create a new account. I want to combine the first 2 accounts, just to keep my total # of accounts a little lower. Is there any reason not to combine these 2 Roth IRA accounts? They are both at Schwab.


  • Magnum Stache
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Re: Consolidating multiple Roth IRAs
« Reply #1 on: January 26, 2019, 08:06:53 AM »
I don't see why not. I'm also not sure the 5 year clock really matters either since after five years you can withdraw the conversion penalty free, but the gains since the conversion still need to stay in the account to avoid penalty so keeping track of gains separately doesn't really matter. Just keep track of the original conversion amount and you should be all set.