Sunset
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I have some Fifth-Third Bank IRA CD's I want to move Vanguard.
I first thought I could cash the CD's out, and then do an ACH to Vanguard Roth. But later realized it seems Vanguard won't take Roth conversion money from a bank account. And there is the new IRS rule about 1 indirect (touch the money) IRA per 365 days Ruling.
So I will move it to a Vanguard IRA first.
However, the Fifth-Third Bank people at 1 branch didn't know how to do anything, including the manager.
I went to another Fifth-Third Bank branch, this place at least had an employee that could tell me the penalties for early withdrawal were $3.00 , very low as the CD has a 0.1% interest rate
I have a brand new IRA account at Vanguard. Vanguard gave me forms for me and Fifth-Third Bank to sign and mail to Vanguard (seems odd). Vanguard says Fifth-Third Bank needs a "Wet" signature.
This second branch couldn't do anything, as they couldn't call the IRA dept on a weekend.
Has anyone recently moved IRA CD's to Vanguard or other brokerage, and how was it done
I first thought I could cash the CD's out, and then do an ACH to Vanguard Roth. But later realized it seems Vanguard won't take Roth conversion money from a bank account. And there is the new IRS rule about 1 indirect (touch the money) IRA per 365 days Ruling.
So I will move it to a Vanguard IRA first.
However, the Fifth-Third Bank people at 1 branch didn't know how to do anything, including the manager.
I went to another Fifth-Third Bank branch, this place at least had an employee that could tell me the penalties for early withdrawal were $3.00 , very low as the CD has a 0.1% interest rate
I have a brand new IRA account at Vanguard. Vanguard gave me forms for me and Fifth-Third Bank to sign and mail to Vanguard (seems odd). Vanguard says Fifth-Third Bank needs a "Wet" signature.
This second branch couldn't do anything, as they couldn't call the IRA dept on a weekend.
Has anyone recently moved IRA CD's to Vanguard or other brokerage, and how was it done