Submitted by woody-buildfina... on Tue, 2020-08-18 11:12 Forums: IRA Discussion ForumI have a client age 69 that is interested in discussing Roth conversion. Does the 5 year rule (10% penalty) apply since he is over 59.5? No, it does not apply after Permalink Submitted by Alan-iracritic@... on Tue, 2020-08-18 11:22 No, it does not apply after 59.5. He can withdraw the converted money anytime without tax or penalty. However, if this is his first Roth contribution he will have to wait 5 years before the Roth is qualified and earnings will be tax free. Follow up Question Permalink Submitted by woody-buildfina... on Tue, 2020-08-18 11:27 Does each subsequent conversion also have a five year holding period? No. As noted above, after 59 Permalink Submitted by Alan-iracritic@... on Tue, 2020-08-18 11:45 No. As noted above, after 59.5 there is no 5 year holding period for the converted amount. The other 5 year holding period is for all Roth IRA accounts of a taxpayer becoming qualified and totally tax free. This 5 year period starts 1/1 of the first year a Roth contribution is made, either a regular or conversion contribution. Therefore, there is no additional holding period for subsequent conversions.