Nov 29

I’ve had an Roth IRA for 9 years, but recently moved it to a new institution. If I want to take money out of my contributions, how is the account affected by the 5-year rule? Does this account have to be open for 5 years at the new institution before I can withdraw?

2 comments so far...

  • tro Said on November 29th, 2009 at 8:36 pm:

    you have fulfilled the 5 yr rule no matter where it was deposited

  • jlf Said on November 29th, 2009 at 9:12 pm:

    To the IRS, the clock started when you first established the IRA, regardless of custodian switches. Just keep the supporting documentation to prove that.

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