Another T.Rowe Price rollover issue (edit)

NickOfTyme

Rolled one fund, in its entirety, into another. One transaction said the funds were coming from a CEFCU account rather than the from fund. The To fund is happy but the From fund still indicates its alive and well with a balance (on my end).
Do I just close the account - zeroing the balance?

Jim_Harman

Is CEFCU a credit union banking account or what?

Are both funds in the same T Rowe Price account, or, as is often the case with TRP, are these Single Mutual Fund accounts, with a different Quicken account for each fund?

When you say "rolled", was the old fund sold an the new one bought, or was this a tax free conversion of some sort?

Ps56k2

Was this part of the TRP rollover for a new Class I fund established for each existing fund… 

NickOfTyme

This was rolling one existing mutual account into another. CEFCU is a credit union & has nothing to do with T.Rowe Price nor these accounts. How it was selected I don't know except I see it selected from a drop down box. Thus the receiving account has the funds but the from account is not debited nor closed. Its still in my left-column of accounts. The From account was causing errors on my one-step download until I told it to stop

Jim_Harman

Please clarify "rolling." Did you sell one fund and buy another? This is sometimes called an "exchange". Or was this a tax free conversion of one share class of a fund to another? I ask because these situations should be entered differently in Quicken.

And again, are these Single Mutual Fund accounts?

Ps56k2

NickOfTyme said:  This was rolling one existing mutual account into another.

Again, specific details would help us followup with your situation. TRP usually has ONE account setup with just ONE mutual fund in each account… you seem to be mixing the words which is confusing to follow . 

NickOfTyme

Jim_Harman-to answer your question, they are separate funds but both within a singular investor number

NickOfTyme

I'm thinking I can just close the "from" account - it's $ zeroed in TRP - that would clean up the register, Net worth wouldn't include it's (now erroneous) amount, & I'd be done with it. Yes??

NickOfTyme

Each fund had a separate 10-digit account #.

q_lurker

The “right” thing to do is to sell the fund in the old account with the cash from the sale going to the new account where shares of the new fund are bought. But you have not been responsive about what your setup is perhaps because you haven’t understood the questions and the various setups that are possible. 

If “removing” the shares and closing the account satisfies your needs, so be it. 

Ps56k2

Yeah … what is the symbol for the old mutual fund ? 
and what is the symbol for the new fund ?
As we have mentioned, with TRP - 
1 - they used to create Single Mutual Fund accounts 
2 - they recently went thru a migration of their mutual funds into a new class - I Class - which caused a new Single Mutual Fund account to be created which then held the new I Class mutual fund.
3 - this migration could be handled by a Quicken menu selection - Mutual Fund Conversion 

BUT … since we as yet really don’t know any specific details about what exactly took place, we are just guessing in the dark

NickOfTyme

I went into the "To" fund register and did an edit on the transaction changing the reference from CEFCU to the correct From" fund. This caused the from fund to be correctly reduced by dollar amount of the transfer. Whats left is a few bucks reflecting updates to the fund since this transaction. I think I can now close the From account zeroing its balance. Yes?

q_lurker

I think I can now close the From account zeroing its balance. Yes?

Again, you can do whatever works for you. I would want to know what happened to those “few bucks” and enter transactions accordingly, but that is me, not you. 

NickOfTyme

I'll try to answer again. Please be patient.
Within T.Rowe Price these are (were) 3 funds with their own account numbers.
Within Quicken they are (were) 3 separate entities within the account column.
This is Quicken on a HP Win11 desktop and not a web version.
There was no creating a new fund. Taking the funds from one mutuak and adding them to another existing fund. The funds are (from) TRRIX and (to) TRRBX. TRRIX now sitting in TRP with a zero balance, TRRIX has a securities balance, however, on the Quicken side so it won't allow me to close it.
The 80k was rolled into RETIREMENT 2020 and the 19k is what shows in the account column - probably the result of a distribution or two - it doesn't exist in TRP. I guess Quicken wants me to do something with the securities value but I don't know what or how. Ready to just delete the account in Quicken and go have beer. Sincere thanks for your patience and help. I'm getting nothing from T.Rowe Price



[Edited - Personal Information]

Ps56k2

interesting comparison - but that is more of a financial and retirement discussion -

https://www.troweprice.com/personal-investing/tools/fund-research/compare