Dumb IRA rollover question

[Susie]

Last week I finally initiated a rollover of my old SIMPLE IRA at Schwab to a traditional IRA at Vanguard.  I was no longer contributing to it because we switched to having a 401k at work, so I wanted to move it over to where all my other investments are.

I did a transfer of all assets in kind rather than liquidating.  I got the confirmation yesterday that everything is transferred to Vanguard, and it is all viewable in my Vanguard account.  I have a $0.34 balance left at Schwab, which I didn't expect.  My goal was to fully zero that out and close the account, without creating any taxable events (even at a very small amount).

Do I just call Schwab and tell them I want to close the account at this point?  What do I need to do about that stupid $0.34?

[Susie]

Yes, it's in cash. I don't fully understand how it wound up leftover, but I better not spend it all in one place, lol.

As dumb as it sounds for <$1, do I need to contribute $0.34 to my rollover IRA within 60 days since I took that amount as a distribution?

[bostonmichelle]

We transferred all our accounts around this year. It took a few weeks for all the dividends that came thru after we transferred to clear the first account and then sweep into the new account. We have a financial advisor at the new place and they said this was normal. You may just have to wait a few days and see if it comes over as well.

[mainelyfoolish]

If you do end up with a check for $0.34, use rounding when you do your taxes and it will round down to 0, i.e. nothing to report.