SEP IRA Conversion to ROTH IRA

Bill is an independent contractor and has a SEP IRA that he has funded for many years and plans to continue to use well into the future.

The SEP IRA balance is $100,000, and the plan is still active.

Can Bill convert $20,000 from his SEP IRA to his Roth IRA and keep the plan active?

Thank you.



Yes, the conversion can be done anytime, but if he is subject to RMDs the RMDs must be completed first each year.



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