How do I convert my traditional IRA to a Roth IRA?

You have three options when converting your initial traditional IRA contribution to a Roth account. You will select the best option for you with your financial institution. 

  1. Rollover- To complete a rollover, you withdraw the funds from your traditional IRA and then contribute it to a Roth IRA within 60 days of taking the distribution.
  2. Trustee to trustee transfer- You tell the financial institution that holds your traditional IRA assets to transfer the amount directly to the financial institution of your Roth account.
  3. Same trustee transfer- If your Roth IRA is managed by the same financial institution as your traditional IRA, you can ask them to complete a transfer from traditional IRA to a Roth.
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