Are my IRA's days numbered?

Hello All,

Dual citizen UK resident

Fidelity just told me that I can no longer buy new ETFs for my IRA. I had previously been cut off from mutual funds but was OK with that. Then out of nowhere the ETF news. I believe some individual stocks and bonds are still open.

My wife just inherited an IRA-BDA and Roth IRA-BDA. I don't know how her accounts will be affected. Neither of us are ready to withdraw from these accounts just yet and were expecting to be able to fiddle with things.  We have no UK retirement accounts.

Did any one else get this news?

Does any one think our IRAs are in danger of being liquidated at some point? Our investment options are certainly dwindling...

Any thoughts?

Thanks

I have not heard of that restriction from Vanguard so I don’t know if restrictions on choosing funds is just a Fidelity thing or not.

As to the IRA-BDA (aka inherited IRA) the rules on those changed recently and I believe they must be drawn down over 10 years beginning straight away if the inheritance didn’t come from one’s spouse, but the rules can be complicated and the penalties high if you don’t begin drawdowns when you should.

https://www.bankrate.com/retirement/inherited-ira-rules/

Thank you, Durhamlad.
I've noticed before a difference between providers in the timing of these kinds of restrictions. A little odd.

for what it's worth.   I have been in the UK for over 30 years, so no IRAs of my own... however, I inherited 2 upon the deaths of my parents several years ago.  UBS gave me 60 days to take them, as they refused to service someone who lived overseas, as did Fidelity.   I ended up getting a dual qualified advisor in London and they are set up on an expat platform with BNY Pershing.   and my Uk kidults now have their own Roths on that platform.  Not cheap--   but the only solution i could find as 2/3 of us will never return to the USA