Guidance on In-Plan Roth Conversions

The IRS has now issued guidance on in-plan Roth rollovers under Section 401(k) and 403(b) arrangements allowed as a result of the Small Business Jobs Act of 2010.

Document Excerpt

This notice provides guidance under Section 402A(c)(4) of the Internal Revenue Code, relating to rollovers from Section 401(k) plans to designated Roth accounts in the same plan (“in-plan Roth rollovers”), as added by Section 2112 of the Small Business Jobs Act of 2010 (“SBJA”), P.L. 111-240. The guidance in this notice also generally applies to rollovers from Section 403(b) plans to designated Roth accounts in the same plan.

Link http://www.irs.gov/pub/irs-drop/n-10-84.pdf

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