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Financial Planning / Tax Strategies


Subject:  Re: Roth Rollover Date:  10/3/1997  1:36 PM
Author:  TMFTaxes Number:  454 of 127546

<<I have money in a qualifying pension plan which I would likr to rollover to a Roth IRA. This is not a 401(k). It's a retirement plan where all monies have been contributed by my former employer. If I rollover this pension money to a conventional IRA, there are no taxes to be paid provided I have the check made out to the company I open the conventional IRA with. If I rollover this pension to a Roth IRA, do the same tax considerations apply? >>

I'm not entirely clear about the type of funds you are talking about. If you are currently employed, it is very unlikely that you can "roll over" your existing retirement funds into any IRA. Period.

Anyway, the Roth rollover rules are very clear: the rollover must come from an existing IRA. So somehow you have to get the funds (assuming that you are legally allowed to move the funds) into an IRA...and THEN make the rollover to the Roth IRA.

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