Roth Conversion Question
Hello, I have a client who has a 401K PSP and was told that they could convert the account to a Roth. I’m pretty sure a Roth conversion from a 401K PSP is possible but i’m looking to see if someone can confirm that and maybe provide info on why this cannot be done? Any help would be greatly appreciated.
Thank you.
Permalink Submitted by Alan - IRA critic on Thu, 2019-12-05 22:56
Since 2008 direct rollovers from qualified plans such as 401k plans to a Roth IRA are allowed. Of course, the client must be eligible to receive distributions from the 401k.