Reply To: Removing rollover fund from Traditional IRA account

Home Fairmark Forum Retirement Savings and Benefits Removing rollover fund from Traditional IRA account Reply To: Removing rollover fund from Traditional IRA account

#8842
Alan S.
Participant

If your current employer plan will accept rollovers of pre tax IRA dollars, you could do a direct rollover of your entire TIRA balance less 6000 into their 401k plan. You can then convert the 6000 tax free. It is best to complete the rollover to the 401k before doing the conversion just in case the plan will not accept your IRA rollover (perhaps because it is not a rollover IRA anymore), or you cannot complete that rollover in the short time left this year. You can do this early next year as well, then make your 2020 ND contribution and your 2021 ND contribution, and convert them both at the same time.