I currently have a Rollover IRA account with Vanguard, and I’m planning to transfer it into my employer-sponsored 401(k) at Fidelity to enable contributions to a Backdoor Roth IRA. However, there’s one stock in my Rollover IRA account (OZON HOLDINGS PLC SPON ADS) that has been delisted due to restrictions on Russia.
When I contacted Fidelity about the transfer, they suggested it might be up to Vanguard to decide. On the other hand, Vanguard mentioned that Fidelity would likely make the decision. Ultimately, Vanguard indicated that the Rollover IRA account might need to remain open with just that single stock.
I’m concerned about whether this would create any issues for contributing to a Backdoor Roth IRA. Does anyone have experience with a situation like this or insights on how to proceed? Any guidance would be greatly appreciated.
When I contacted Fidelity about the transfer, they suggested it might be up to Vanguard to decide. On the other hand, Vanguard mentioned that Fidelity would likely make the decision. Ultimately, Vanguard indicated that the Rollover IRA account might need to remain open with just that single stock.
I’m concerned about whether this would create any issues for contributing to a Backdoor Roth IRA. Does anyone have experience with a situation like this or insights on how to proceed? Any guidance would be greatly appreciated.
Statistics: Posted by learntoinvest — Thu Dec 26, 2024 10:37 am — Replies 2 — Views 107