Roth Conversion

Submitted by ShipsnGiggles on Tue, 2022-11-29 13:34

T-IRA owner wants to do a transfer in kind as part of a partial T-IRA to Roth IRA conversion.
Although a transfer in kind is permissible the IRA custodian is saying the stock must be sold.

Does a custodian have to allow for a transfer in kind? Can they “force” the owner to sell the security and repurchase?

Thank you



Submitted by William Tuttle on Tue, 2022-11-29 14:35

  • This is at the discretion of the IRA custodian.
  • What IRA custodian is this?
  • Since you have to sell some of the stock anyways:
  • Maybe the entire traditional IRA should be rolled over to a new more accommodating IRA custodian. Who knows what other restrictions this IRA custodian may present later.
  • Then you can do the partial Roth conversion and have the ability to do future Roth conversions in-kind.
  • I’m a firm believer in voting with my feet and only have my assets at financial institutions who earn them.

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