TRowe now allows online Roth conversions for investors in "RMD years"

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RetiredCSProf
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Joined: Tue Feb 28, 2017 3:59 pm

TRowe now allows online Roth conversions for investors in "RMD years"

Post by RetiredCSProf »

This morning, while tweaking my TRowe rollover IRA online, I inadvertently discovered that they have updated their website to now allow me to make online Roth conversions :D

Over the past year or so, I have been struggling with the awkward process for converting from my TRowe rollover IRA to my TRowe Roth IRA. Their website prohibited investors of "RMD"-age to make online Roth conversions, because there was no process in the software for the client to confirm that the RMD had been satisfied for the year before taking the conversion. The only options were to FAX in a written request form or phone in the request. Typically, when I called to request an RMD conversion, there was a long wait on the phone, and half the time the newly trained reps were unfamiliar with the process and were prone to making errors.

I have been complaining to TRowe advisors about this issue and had sent multiple messages about it. They listened! I don't know when they made the change. It has been a month since I last requested a conversion.
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