Simple and potentially dumb question about Roth IRA transfer

[nofool]

Hi guys, quick question. If I want to rollover a Roth IRA at one broker to a Vanguard Roth IRA that I'm about to open, do the funds count as part of the $5500 contribution limit? I'm assuming not, otherwise people that have a balance of greater than $5500 would be penalized. I'm 90% sure I'm correct, but can anyone confirm?

[sol]

As long as the funds are already in a Roth account, they don't count against your contribution limit.  Come to think of it, I'm pretty sure they don't count against your limit even if you're rolling over from a traditional IRA.

note:  not a CPA or professional financial planner.

[nofool]

Thanks, Sol! Cheers :)

[Crash87]

As long as the funds are already in a Roth account, they don't count against your contribution limit.

Correct.

Come to think of it, I'm pretty sure they don't count against your limit even if you're rolling over from a traditional IRA.

Also correct.