Five Year Rules for distributions from Roth Conversion
For someone older than 59 1/2 years, can the original Roth conversion amount be distributed within 5 years without any penalty as long as any Roth earnings remain in the Roth?
For someone older than 59 1/2 years, can the original Roth conversion amount be distributed within 5 years without any penalty as long as any Roth earnings remain in the Roth?
Permalink Submitted by Alan - IRA critic on Thu, 2021-12-16 00:43
Yes, all 10% penalties cease at 59.5. After 59.5 Roth earnings are also qualified and tax free once the first Roth contribution year is over 5 years in the past. Until that occurs, Roth earnings come out last.