Roth conversion
If in 2010 someone converts an IRA to a Roth and then does an in-service transfer from a Roth 401k account, is this permitted?
If in 2010 someone converts an IRA to a Roth and then does an in-service transfer from a Roth 401k account, is this permitted?
Permalink Submitted by Joseph Arsenault on Wed, 2009-02-11 16:11
It depends on if the person is eligible for an in-service distribution. If they are over 59 1/2 and the plan allows them to, then they can roll the money over to the Roth IRA.
The Roth IRA that has taken the contribution from the TIRA can have unlimited rollover contributions. This does not affect the annual IRA contribution limits individuals are subject to.