Consolidating 403b accounts

You can have multiple IRA accounts with different custodians and trustees.For example, you might have IRAs set up at a number of different mutual funds.If you roll over non-IRA qualified employer plans into an IRA, the plan custodian will withhold 20 percent of your money for taxes.

However, you can't combine Roth and traditional IRAs in the same account.

Nondeductible contributions can occur when you or your spouse are also enrolled in a qualified employer plan.

If you make a partial conversion, you must prorate your nondeductible contributions.

You can roll over any one account only once per year.

If you roll over property, it must be exactly the same property distributed to you.

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