Roth IRA Conversion
A reportable movement of assets from a Traditional, SEP or SIMPLE IRA to a Roth IRA. The movement of assets may be taxable. Investopedia Says:
A conversion may be accomplished by a rollover of assets directly between the trustees of the Traditional and Roth IRAs, or by the IRA owner distributing the assets from the Traditional, SEP or SIMPLE IRA and rolling over the amount to the Roth IRA within 60-days of receiving the distributed amount. Related Terms:
In-Service Withdrawal
Individual Retirement Account - IRA
IRA Adoption Agreement and Plan Document
Non-Qualified Distribution
Ordering Rules
Qualified Distribution
Recharacterization
Reconversion
Rollover
Roth IRA
SEP
SIMPLE
Spousal IRA
Triggering Event |