Roth IRA holdings

[Guest erock34]

Can an individual contribute to more than one Roth IRA account during the same year?

[Michael Devault]

You sure can, just as long as the total, aggregate contributions to all accounts does not exceed $2,000.

Hope this helps.

[John G]

Some additional points that may relate to your question.

The negatives of having multiple Roth accounts can include: more paperwork, more statements, extra account fees, etc. Some may view these as trivial.

You may not be more diversified if you have multiple accounts. For example, if you have mutual funds in three different locations that have a growth slant you may find that they all own Intel, Cisco, Mr Softy etc.

Combining accounts is not very difficult. You can do this by getting the paperwork from the custodian who will receive the funds. Return it filled out and they will notify the other custodian to do a direct transfer.