Allows rollover contributions from Roth IRAs to designated Roth accounts.
The Retirement Rollover Flexibility Act amends the Internal Revenue Code to permit rollover contributions from Roth IRAs to designated Roth accounts. This includes contributions from eligible Roth IRAs and automatic portability transactions. The bill defines an eligible Roth IRA as one that is the only Roth IRA maintained for the individual during the taxable year and has a balance within specified limits. Rollover contributions are treated as investments in the designated Roth account, and earnings are subject to taxation if distributions are made before the five-year holding period.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.