Can my spouse and I combine our Traditional IRAs?

By Denise Appleby AAA
A:



No. IRAs cannot be maintained as joint accounts. One key indicator is the label - IRA stands for individual retirement account. The "individual" in the label suggests that the account must be maintained as an individual account for registration purposes.

Refer also to IRC 408 §, which states that an IRA must be established for an individual. Joint ownership is not allowed under any provisions of the Code or Treasury Regulations.



For further reading, see the Traditional IRAs tutorial.



This question was answered by Denise Appleby
(Contact Denise)



RELATED FAQS

  1. Can I purchase mutual funds for my IRA?

    Learn how to invest your IRA assets in mutual funds. Discover a few of the different types of mutual funds available for ...
  2. What is the minimum amount of money that I can invest in a mutual fund?

    Learn about investing in mutual funds even with a smaller initial investment; there are many funds available to investors ...
  3. Can I purchase mutual funds for my IRA?

    Learn how to invest your IRA assets in mutual funds. Discover a few of the different types of mutual funds available for ...
  4. How do Pay As You Go pension plans work?

    Learn how pay-as-you-go pension plans are different than fully funded pension plans and why some government plans are running ...
RELATED TERMS
  1. Elder Care

    Elder care, sometimes called elderly care, refers to services ...
  2. Gold IRA

    Definition of Gold IRA
  3. Eligible Transfer

    An IRS-allowed movement of assets into or out of an individual ...
  4. Death Master File (DMF)

    Also known as Social Security Death Index. A list of people whose ...
  5. Leveraged Benefits

    The use – by a business owner or professional practitioner – ...
  6. Peri-Retirement

    A term for the period of time leading up to actual retirement. ...
Related Articles
  1. If that's always been your dream, there actually are affordable ways to retire in France. Some regions to explore and some cautions to keep in mind.
    Retirement

    Can You Afford To Retire In France?

  2. A delightful climate, World Heritage sites and a low cost of living are just some of the reasons to retire to Ecuador. Here's more about what to expect.
    Retirement

    Why Retiree Expats Adore Ecuador

  3. The names sound similar – continuing care, assisted living – but retirement communities differ widely. How to tell them apart and what you'll need to pay.
    Retirement

    Don't Pick The Wrong Type Of Retirement ...

  4. A description of the top retirement plans for self-employed
    Retirement

    Self-Employed? Top Plans For Retirement ...

  5.  Investors often spend decades working and saving in an effort to build a nest egg for retirement. During that time, their primary investment goal is to see their assets grow. When retirement finally arrives, the investment goal often changes from seeking to grow assets to using those assets to generate income.
    Retirement

    The Best Way To Build Your Retirement ...

Trading Center