Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

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Wednesday, September 5, 2012

More Information on Roth IRAs

IRAAs I have previously discussed, Roth IRAs can affect whether a person has to make withdrawals from the IRA. An Roth IRA owner might also take note that he or she cannot roll over his or her Roth IRA account into a Roth 401(k), Roth 403(b) or Roth 457(b) account. The reason for this is because the I.R.C. only allows an owner to add the following assets to the Roth IRA:

  • "Salary deferrals from your wages"
  • "Catch-up contributions if you are age 50 or over during the year"
  • "Automatic enrollment deferrals"
  • "Rollovers from other Roth employer plans"
  • "In-plan conversations from funds held in the regular portion of your account"

Any other assets that a person obtains becomes part of that person's employer plan. A person can transfer his or her Roth employer plan funds into that person's Roth IRA. 

See Beverly DeVeny & Jared Trexler, Contributions to Roth Employer Plan Accounts: What Can and Can't Be Contributed, The Slott Report, Aug. 31, 2012.

Special thanks to Brian J. Cohan (Attorney at Law, Law Offices of Brian J. Cohan, P.C.) for bringing this article to my attention.

http://lawprofessors.typepad.com/trusts_estates_prof/2012/09/more-information-on-roth-iras.html

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