Mar 1

Question by ResearchGirl: I moved my Roth IRA to a different institution. How does that affect the 5 year rule for withdrawals?
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?

Best answer:

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

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one comment so far...

  • jlf Said on March 1st, 2011 at 5:36 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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