ROLLOVERS TO ROTH IRAs AND ACCOUNTS
01.Core Concepts
• Qualified plan assets can be rolled directly to a Roth IRA or Roth account. • Potential benefits of converting: • Tax reduction / tax diversification • Tax deferred funds transfer (Example 11.10) • Minimum distributions are not required from Roth IRAs (during life) • Beginning in 2024, RMDs no longer required from any Roth accounts (during life) (SECURE 2.0 Act). • Estate tax reduction