I have had both a Traditional and Roth IRA established for well over 5 years. The traditional has about $110K in it, while the Roth only has a balance of $6K. I’m thinking of converting about $10K a year, into the Roth, to keep me in a lower tax bracket. I am 62 years of age. I understand the $10K will add to my taxsble income each year, as it was tax-deferred money. I have read thru Ed’s books on conversions, but I still need a point of clarification.

Even though my Roth account has been established for over 5 years, and I am over age 59.5, will each “chunk” of $10K converted into my Roth still be subject to that 5 year “freeze” before I can access it w/out incurring any penalty from the IRS? Or does the “freeze” still apply even though the Roth was established long ago and I am 62? I’m guessing that rule was established for young folks, to prevent them from pulling an “end run” for getting access to their money early, w/out penalty.

I would appreciate it if someone could clarify this. Thanks.