Question by Mike201JC: Does transferring a Roth IRA to another institution impact the five year rule for qualified distributions?
If I transfer a Roth IRA from one financial institution to another, will the five year waiting period for tax-free qualified distributions be impacted, or will it still be calculated from the date I first contributed to the IRA at the original institution?

Best answer:

Answer by Bash Limpbutt’s Oozing Cyst©
No, rollovers between like type accounts (i.e. Roth to Roth) do not affect the calendar at all.

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I want to open a Roth IRA with Vanguard, but the minimum is three thousand, which I don’t currently have. If I were to open an IRA with Sharebuilder (or some other institution with lower minimums) would I later be able to transfer it to Vanguard without paying fees for cashing it out?

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