I’m 20 years old and self employed. Earlier this year I opened a Roth IRA with Fidelity and set up automatic monthly contributions from my checking account.
This month I noticed Fidelity forgot to make the automatic transfer, so I tried to access my Fidelity account online to check what happened. The website said my account was blocked and to call Fidelity for access.
When I called, the representative informed me that she could not unblock my online login because my Roth IRA had been closed “without explanation and without the possibility of reopening.” She made it clear that she did not know anything about the process through which it was closed; she was just reading notes in the computer system.
I asked how to get my money back ($2500+) and the representative offered to email another department which handles such requests and ask them to call me within 3 days. I have now been waiting 2 weeks for their call.
I’m upset they closed my account without recourse, without notifying me, and worried that my money might be gone. Also, if the account closure counts as a distribution that might hurt me at tax time.
Advice, anyone? Am I out of luck? Is Fidelity a scam?
Submitted November 24, 2020 at 11:18PM by CFrancisW https://ift.tt/33d34A8
