• Contributions and potential investment gains accumulate tax-free.

  • Withdrawals can be taken out tax-free and penalty-free providing you are 59½ or older and you have met the minimum account holding period (currently five years).

  • There is no need to take required minimum distributions with a Roth IRA.

  • Allows for conversion contributions


Traditional IRA account owners have considerations to make before performing a Roth IRA conversion. These primarily include income tax consequences on the converted amount in the year of conversion, withdrawal limitations from a Roth IRA, and income limitations for future contributions to a Roth IRA. In addition, if you are required to take a required minimum distribution (RMD) in the year you convert, you must do so before converting to a Roth IRA.

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