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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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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Roth IRA contributions can be withdrawn at any time with no penalties. I am aware of the 60 day (and only once per 12 months) rule, but does this rule apply only to earnings or to all funds that are withdrawn (contributions and earnings)? Can I rollover contributions past the 60 days and/or more than once every 12 months?

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?

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