Multiple IRA account types
New client age 47. She currently has three IRAs including a Traditional, SEP and SIMPLE. She is looking to consolidate these into one account. Client works as a floating veterinary doctor and now has the opportunity, under a new group, to begin contributing to a 401 k.
What considerations (questions) should I be keeping in mind when consolidating her IRA accounts? Which of the IRA types is best suited?
Anthony
Permalink Submitted by Alan Spross on Mon, 2012-03-12 17:36
If she will no longer be contributing to the SEP or SIMPLE IRAs, she can transfer them into the TIRA account. However, the SIMPLE IRA cannot be transferred until 2 years have passed from the date of her first contribution to the SIMPLE IRA.