Changing RIRA mutual fund families
I have recently changed my TIRAS to RIRAS keeping them in the same mutual fund families. Now I want to change mutual fund families, consolidating them into a few ROTHs. Do I have to wait a certain amount of time to convert to a different fund family? Thanks for your help.
Permalink Submitted by Alan Spross on Mon, 2010-07-12 19:19
There is no waiting period merely to change investments. If your IRA custodian is presently the mutual fund companies rather than a brokerage account, you will have to transfer the Roths to a new custodian, either a different mutual fund company or a brokerage account that can hold funds from several different mutual fund providers. It is best to move the Roths by direct trustee transfer rather than by an indirect rollover. Indirect rollovers are limited to one per year per IRA account.
Note that if you end up recharacterizing your recent conversions, the process will be more complicated relative to earnings calculations for the recharacterization.