SEP IRA Conversion to ROTH IRA
Bill is an independent contractor and has a SEP IRA that he has funded for many years and plans to continue to use well into the future.
The SEP IRA balance is $100,000, and the plan is still active.
Can Bill convert $20,000 from his SEP IRA to his Roth IRA and keep the plan active?
Thank you.
Permalink Submitted by Alan - IRA critic on Thu, 2019-11-21 22:46
Yes, the conversion can be done anytime, but if he is subject to RMDs the RMDs must be completed first each year.