Consolidating multiple iras
It can also allow you to exploit special tax benefits for certain types of company stock-based plan contributions and for in-kind distributions of certain assets.Your retirement plan assets may be one of the most important legacies you take with you when you move from one job to another.
There are several good reasons for consolidating your Roth IRA accounts. You have fewer account statements to review and potentially fewer financial institutions with which to deal.
You may also be able to reduce certain fees after a consolidation.
A flexible option for those seeking to accumulate assets under a single account umbrella is the rollover IRA.
Offered by many financial institutions, the rollover IRA can help you turn a hodge-podge of holdings into a single investment blueprint and unified asset allocation plan.
Those who withdraw less than the RMD amount by the deadline will owe the IRS an excise tax of 50% of the shortfall.