Can I roll one Roth account into another Roth?

[Guest mslish]

I have two Roth IRA's at separate institutions. Can I roll one account into the other so that I would only have one Roth account?

Thanks,

mslish

[John G]

Yes, you can combine IRAs. You can also split one IRA into many IRAs.

Usually the best way to do this is to contact the custodian that you want to handle the funds in the future. Ask for a direct IRA transfer application. Most custodians have a 1-2 page form that you fill out and then attach the most recent statement of the IRA you are eliminating. They will make the arrangements, your job is to monitor that the task is completely properly.

Note: the custodian of the account you close may charge you an exist fee.

[Guest mslish]

Thanks for the response.

-mslish