Roth 401k conversions?

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Chardo
Posts: 1508
Joined: Fri Feb 18, 2022 12:16 pm

Roth 401k conversions?

Post by Chardo »

When a 401k offers both traditional and Roth options to employees, can one simply move money from traditional to Roth to accomplish a Roth conversion?
headedwest
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Joined: Wed Dec 28, 2016 12:05 pm

Re: Roth 401k conversions?

Post by headedwest »

It depends on your employer's rules. Mine says no.
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retiredjg
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Re: Roth 401k conversions?

Post by retiredjg »

Some plans allow an "in-plan Roth rollover". Some do not.
cogitater
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Re: Roth 401k conversions?

Post by cogitater »

How about an individual 401K, ie, one controlled by me? Can I handle the conversion to a roth?
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BolderBoy
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Location: Colorado

Re: Roth 401k conversions?

Post by BolderBoy »

cogitater wrote: Tue Jul 09, 2024 7:55 amHow about an individual 401K, ie, one controlled by me? Can I handle the conversion to a roth?
You are The Administrator of your Individual 401k Plan. The Administrator can handle the conversion but only if The Plan allows such conversions. Doubtful that you created The Plan.

At least that is my understanding.
"Never underestimate one's capacity to overestimate one's abilities" - The Dunning-Kruger Effect
sailaway
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Re: Roth 401k conversions?

Post by sailaway »

cogitater wrote: Tue Jul 09, 2024 7:55 am How about an individual 401K, ie, one controlled by me? Can I handle the conversion to a roth?
It still depends on the plan. For a non prototype plan, you make the rules. Only a handful of prototype plans offer Roth at all. I don't know how common an in plan conversion is amongst those.
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