Even when an IRA is transferred between banks, the IRS does not require reporting because the funds never left the hands of a custodian.Everything else required to consolidate the two accounts is a function of your operating system and they simply do not all work the same way.Not to mention, each of your accounts could have a different investment mix, making it difficult to determine your portfolio's overall mix.Gathering your retirement savings in a single IRA gives you a single account to manage.It's easy to procrastinate when you don’t quite know where to start – and aren’t sure you'll like what you find.That's why we created this tutorial, to list the steps that will help secure your future.
Find out the potential benefits of creating a rollover IRA to consolidate multiple employer-sponsored retirement plans.Consolidating your money may help you qualify for those services. There are important factors to consider when rolling over assets to an IRA [or an employer retirement plan account/leaving assets in an employer retirement plan account].If you’re like a lot of people, you’ve probably changed jobs or even careers many times over the years. However, "how" to do it is more of an operational than a legal question.First, please understand that the IRS does not care; there is no required information reporting.
My best suggestion would be to contact your data processing vendor and ask for suggestions.