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Can a person who is already required to receive required minimum distributions (RMDs) from their traditional IRA, convert the account to a roth IRA?


The BIDaWIZ Team's Answer:

You can technically convert IRA funds into a Roth after you reach the age of 70 1/2. However, a Roth IRA conversion requires you to take the RMD before converting your account. Ineligible funds converted to a Roth IRA will be subject to an excise tax and will be required to be removed as excess. Please refer to IRC Section 401(a)(9).

The BIDaWIZ Team



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