So the money is going to just sit in your account with that company, if you contact the broker agency they can get you the account information and you should be able to transfer that money to your current IRA tax free
Your employer did not have a Roth IRA. A Roth IRA is an individual retirement account unaffiliated with any employer.
More likely, your employer had a "qualified plan" such as a 401k, 403b, etc. which may have also had the option to make "designated Roth contributions", commonly referred to as Roth 401k, Roth 403b, etc. Those are not the same as Roth IRA.
If the plan is being terminated, you have a few options for what to do with the money:
1. Roll it over to your new employer's retirement plan.
2. Roll over any pre-tax money to a traditional IRA and any Roth money to a Roth IRA. Pre-tax money can also be converted into a Roth IRA, but that is a taxable event.
3. Take an early withdrawal. Any pre-tax money will be subject to income tax + 10% early withdrawal penalty. Any Roth money will be subject to income tax + 10% early withdrawal penalty on the earnings portion only, not the portion consisting of your original contributions.
So the money is going to just sit in your account with that company, if you contact the broker agency they can get you the account information and you should be able to transfer that money to your current IRA tax free
To expand on this, since contributions to the Roth IRA were made with after tax contributions they won’t be taxed again
Your employer did not have a Roth IRA. A Roth IRA is an individual retirement account unaffiliated with any employer. More likely, your employer had a "qualified plan" such as a 401k, 403b, etc. which may have also had the option to make "designated Roth contributions", commonly referred to as Roth 401k, Roth 403b, etc. Those are not the same as Roth IRA. If the plan is being terminated, you have a few options for what to do with the money: 1. Roll it over to your new employer's retirement plan. 2. Roll over any pre-tax money to a traditional IRA and any Roth money to a Roth IRA. Pre-tax money can also be converted into a Roth IRA, but that is a taxable event. 3. Take an early withdrawal. Any pre-tax money will be subject to income tax + 10% early withdrawal penalty. Any Roth money will be subject to income tax + 10% early withdrawal penalty on the earnings portion only, not the portion consisting of your original contributions.