Traditional IRA
HISTORY: RECENTLY BY SERVING A SUBPOENA I LEARNED OF THE EXISTENCE OF A TRADITIONAL IRA WITH A PURCHASE DATE OF 1/1/1970 AND A VALUE OF $226, 700. 00 AS OF 2016. I REALIZE THE IRA WAS NOT AVAILABLE TO THE PUBLIC TILL 1974. MY HUSBAND IS DECEASED. I AM MISSING MONEY FROM OUR PENSION AND PROFIT-SHARING PLAN PLAN. DURING 1984 THERE WAS A $135,700.00 PENSION AND ANUITYY ROLLOVER. IN A 1986 DEPOSITION MY HUSBAND CLAIMS HE BORROWED THE MONEY AND HAD NOT PAID THE MONEY BACK. QUESTION: COULD THE 1984 PENSION AND ANNUITY ROLLOVER JOIN WITH AN INVESTMENT HE MADE IN 1970 AND NOW READ PURCHASE DATE 1970 STILL HAVE FUNDS FROM THE ROLLOVER TO MAKE THE 2016 TOTAL OF $226,700.00? CAN ANYONE HELP ME GET TO THE BOTTOM OF THIS?
Permalink Submitted by Alan - IRA critic on Tue, 2022-03-08 00:50
It’s too late to be concerned with isolated financial events starting a half century ago. Even if some of these could be documented, it would have no bearing on how much might be left today. There have been several bear markets over these years and depending how accounts were invested, they could have tripled or have been wiped out in a short time.
Rather, if you are sure that there was an IRA holding 227k at the end of 2016, you might be able to trace down where that money went and what it is worth today. Whose name was that IRA held in? All states have escheatment provisions after which a dormant account with no activity or valid forwarding address is sent to the state. This might have occurred to your husband’s accounts, or some of them. You might try to determine what occurred to this balance after 2016, and forget about prior events that might have occurred at a moment in time, but no longer matter.