Welcome! If this is your first time visiting, check out the story behind this blog. So you won't miss out on future updates, you may want to subscribe to my RSS feed. If you prefer a weekly email, try this option. Thanks for visiting and please come again!
Roth IRA Rollover from 401k
Whenever you leave your job, you have a decision to make with your 401k plan. Typically, most people will initiate a 401k rollover to a traditional IRA. A common question that I’ve been getting lately is if you can roll over your 401k into a Roth IRA and how you do it. Or if you have been contributing to a Roth 401k…..then what are your choices? Let’s see if I can help you make “cents” of the situation.
If you like this article you may also like: 401k Rollover Options to IRA, 7 Common Mistakes When Rolling Over Your 401k, 401k Rollover Offers Wide Range of Benefits.
Roth IRA Rollover Rules From 401k
Reminder: You must be separated from your employer to roll your 401k into a Roth IRA. You CANNOT do this if you are still working for the same company and/or employer (unless your over 59 1/2).
Prior to January 1, 2008 you were simply not able to directly rollover your 401k into a Roth IRA. If you wanted to do so you had to complete a two-step process. (Keep in mind that this would also apply to old Simple IRA’s, SEP IRA’s and 403b’s, 457, and qualified pensions, too)
[…]
