Permalink Submitted by Alan - IRA critic on Fri, 2020-03-20 00:21
Yes, all you need to do is a direct trustee transfer of your current Roth IRA into a bank that offers CDARS CDs. CDARs is where you maintain an account in a single bank which is reinsured by other banks such that no single bank is responsible for more that 250,000 (in case of IRAs) of the account. You would probably have to provide them a list of balances you have in other banks to be sure that the reinsuring banks used are not banks where you hold other money.
Permalink Submitted by Alan - IRA critic on Fri, 2020-03-20 00:21
Yes, all you need to do is a direct trustee transfer of your current Roth IRA into a bank that offers CDARS CDs. CDARs is where you maintain an account in a single bank which is reinsured by other banks such that no single bank is responsible for more that 250,000 (in case of IRAs) of the account. You would probably have to provide them a list of balances you have in other banks to be sure that the reinsuring banks used are not banks where you hold other money.