Roth IRA 5 Year Timing

[GaryBr2]

We recently moved our Roth IRA to another investment firm from the one where we opened it.  Does the 5-year clock start from when we initially opened the account or when the new firm took ownership?  

Thanks,

Gary

[MinhT1]

No, transferring your Roth IRA to a different broker does not reset the 5-year holding period; the 5-year clock starts when you make your first contribution to any Roth IRA, and it applies to all your Roth IRAs, meaning a transfer between accounts does not restart the waiting period. 

[GaryBr2]

Thanks, that clears it up.