Transferring shares between investment accounts (Rollover IRA)

richarddevenezia

I have a rollover IRA in an investment account. The account was initially managed by Firm #1 and they were bought out by Firm #2 which took over the account with a new account number and login credentials, so I set up a new account. I did a "Shares transferred between accounts" transaction for all securities (they are all mutual funds (MF)). All the security transactions were buy and reinvest, except for one sell transaction in one of the MF that ended up in the cash balance just before the Firm #1 to #2 transition. After the transfers, the share balance for MF was off because the sell did not end up in the new account.

Q: What are some ways to deal with the sell in the new account ?

Should I just do a "remove shares" in the new account ?

Jim_Harman

Was the Sell eventually executed in the new account, or did it never occur? If it was eventually executed. you can delete the transaction in the old account and enter it manually in the new account.

Sherlock

First, you didn't need to create a new account.  All you needed to do was deactivate the Online Services, clear the financial institution's name, and set up the Online Services using the new financial institution's name and authentication credentials.

Second, the Shares Transferred Between Accounts wizard will have entered a Removed action transaction for each security held in the original account and an Added action transaction for each lot of each security held on the date of the transfer.

The correct approach will have you enter the Sold transaction in the original account.  If you want to continue using a distinct account, this means you'll need to adjust the Removed action transaction in the original account and the Added action transaction for each lot of the security impacted by the missing transaction in the new account appropriately.  If you want the wizard to do the work, you would remove the original Removed and Added transactions before invoking the wizard.

q_lurker

I would speculate that MM shares were sold in the first account creating cash in that account. The cash does not transfer via Shares Transferred. 
if so, I would delete the sell transaction in account 1, use Shares Transferred to move the shares to account 2, and enter the sell transaction in account 2. 

richarddevenezia

Thanks @Sherlock . The wizard did place those Removed transactions in Account #1 and Added transactions to Account #2. The sale occurred 12/3 and the 'transfer` was on 12/10. I think I recall using the wizard first specifying date 12/10 and noticing the disparity. I further recollect doing the wizard again, specifying 12/9 for the transfer date. It somehow accounted for the sale, and the wizard prorated each transaction by the sold # of shares (maybe due to average price method on that account?). However, the sum of prorated shares did not match the actual, being off by something like 0.000014 shares.

Note: I used Banking Transaction report to locate and easily delete the extraneous 12/9 transactions that appeared due to using the wizard multiple times.

The account being an IRA, I just removed shares from Account #2 to match the sale that occurred earlier when IRA was tracked in Account #1.