Is it necessary to put money to different 3A providers to reduce bankruptcy risk exposure?

[PhilMongoose]

@ProvidentRetriever

I heard of people who had issues when withdrawing from multiple accounts at the same provider: the provider apparently messed up and internally considered them the same account, and forced a single withdrawal the same year.

For the avoidance of doubt, for tax purposes, all 3a drawn in the same year are anyway considered together.

[ProvidentRetriever]

I mean it is 100% because no provider can mess up by merging two accounts if I do not have two accounts with them. Much less complicated than court.

[ProvidentRetriever]

@PhilMongoose

For the avoidance of doubt, for tax purposes, all 3a drawn in the same year are anyway considered together.

That’s true. For multiple withdrawals however you do need several accounts and that the provider lets you withdraw in several years.