Roth Recharacterization Rules

We had a client that made a Roth IRA contribution for 2012 on 2/11/2013. On 4/8/2013, he called to inform us he made too much money to make a Roth Contribution so we recharacterize the contribution into a non-deductible Traditional IRA. We want to reconvert the non-deductible Traditional IRA to a Roth IRA but I am unclear of how long we have to wait until we can do that.



There is no waiting requirement because this is NOT a reconversion of a recharacterized conversion. It is a conversion of a recharacterized regular Roth contribution and there is no waiting period for that.

Alan,Thank you for the quick response.  Could you please reference where this is indicated in the tax code?

IRS Regs, see Q &A 9 in the attached. Note that the waiting period only applies to a conversion: http://www.taxalmanac.org/index.php/Treasury_Regulations,_Subchapter_A,_Sec._1.408A-5

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