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1) I assume, like you, that one will be able to roll traditional IRA money into a Roth for years to come... has anyone seen anything to contradict this?

2) After a rollover, does one have to wait 5 years to withdraw the rollover "contribution," or is it immediately available?

You may roll traditional IRA to Roth IRA in any year from this one foward. You will have to wait five tax years after each rollover before withdrawing that money penalty free before age 59 1/2. To avoid problems in that regard, you will have to maintain a separate rollover account for each years' rollover.

That won't be true if the technical corrections act includes the provisions recently released by the Senate Finance Committee. (I mean *very* recent, so no reason Pixy would know of this.) The rule will permit you to keep all rollovers (and non-rollover contributions) in a single Roth IRA with no adverse consequences. In fact, even if you keep them separately they'll be treated as a single Roth. The new rules are much more favorable than the previous ones (and incorporate some suggestions I made to Senate Finance staff). But I won't have time to describe details until later tonight or more likely tomorrow.

KAT in Chicagoland
Tax Guide for Investors
Now with expanded and revised
Roth IRA information
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