Assuring your existing "Roth Instrument" remains "Roth-

[Guest LETurner]

I converted my Retirement Savings into a "qualified" Roth IRA 4+ years ago & paid the four years of taxes.

Now I am advised that the company holding my IRA instrument is in financial straits. I am being advised to move my $$ from the existing Roth instrument to a Allianz Annuity. I want to assure that when transfer is complete, that I still have a Roth IRA. How can one be assured? What are the rules that govern this?

Appreciate guidance before I complete the transfer.

Thank you.

Lyle Turner:confused:

[John G]

This is a curious question. I wonder if someone is just trying to pitch an annuity to you and using the "financial straights" arguement.

First, who is currently your custodian? Second, in what are your Roth assets currently invest? Are there any transfer of asset restrictions in the papers you signed when you began this investment? Who told your that firm XX is in financial straights?

Normally, you can go to any Roth/IRA custodian (Schwab, Fidelity, T Rowe Price, Vanguard, etc.) and fill out forms instructing them to get your funds transfered from your current broker, mutual fund or bank. This can get a little more complicated if your Roth assets are in a "propietary" style mutual fund (it might have to be sold) or if you signed forms with account closure fees.

Please post some clarifications and we can give you better advice. Changing your Roth custodian is not a big issue... but I suspect that there are other hidden issues behind your question that are important.