Full distribution of converted Roth IRA after 59 1/2
If Jane originally contributed to a Roth IRA at age 45, and at 60 she converted a pretax IRA into the same Roth, could she take a distribution of the entire Roth IRA at 61 without taxes and penalties? Or does she have to wait five years after the conversion?
Permalink Submitted by Alan - IRA critic on Sat, 2022-10-15 18:04
There is no waiting requirement in this situation. All distributions are tax and penalty free. Also, it does not matter which Roth account received a conversion, since all Roth accounts are treated as one combined account with respect to taxes on distributions.