Permalink Submitted by Alan - IRA critic on Tue, 2021-09-28 22:40
You are probably referring to the 5 year holding period for a conversion to avoid the 10% penalty if you withdraw the conversion from your Roth. These conversion holding periods do not apply upon reaching 59.5, and any conversions done before 59.5 still subject to the 5 years are treated as completed upon reaching 59.5. Note that this is not related to the 5 year holding period for your Roth earnings to become qualified and tax free. That is an entirely different 5 year requirement.
Permalink Submitted by Alan - IRA critic on Tue, 2021-09-28 22:40
You are probably referring to the 5 year holding period for a conversion to avoid the 10% penalty if you withdraw the conversion from your Roth. These conversion holding periods do not apply upon reaching 59.5, and any conversions done before 59.5 still subject to the 5 years are treated as completed upon reaching 59.5. Note that this is not related to the 5 year holding period for your Roth earnings to become qualified and tax free. That is an entirely different 5 year requirement.