Combining various IRA Accounts

At my broker I have 3 different IRA Accounts setup. 2 accounts are rollovers from 401k's I had at previous employeers. The 3rd account is a simple IRA that I created earlier this year since I didn't have an employer provided plan, but wanted to get my 2006 tax deduction. Anyway, since all 3 accounts are IRA's now at this one broker, can I combine them into just one account? I want to do this since I have very little time or brain capacity to manage multiple accounts. In fact, the reason I did the rollovers from Fidelity and Vanguard to Schwab was because it was just getting to hard to learn each broker's website and offerings.

Any input would be appreciated.

TIA

Reply to
in Technicolor
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There's no issue combining the IRAs. One broker stopped letting you designate different beneficiaries on different IRA accounts, so even that reason for multiple accounts is gone. Just make sure the beneficiary designation is clear for the one IRA account you now have. JOE

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Reply to
joetaxpayer

I'd wait until year end distributions are made.

Reply to
sailor1x

Why? Distributions within IRAs are not taxable events. Besides, combining IRAs at the same brokerage wouldn't have to involve selling and buying. It probably would be done by book entries.

Dave

Reply to
Dave Dodson

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