Backdoor Roth IRA timing question

[Love This Community]

Hello,

I contributed $6900 to my IRA FEDERAL MONEY MARKET FUND (settlement fund) in VG. My available balance shows $6900 however it is not yet reflecting in my money market fund. It'll probably be cleared by tomorrow or day after. Do I need to wait until the funds are available in the settlement account before converting to Roth? (this is what I did previously, but that also leaves small residual interest amount in the settlement fund (less than $10).

Ideally, I would love to have no residual amount in the IRA account.

 

[oldtimer]

Hello,

I contributed $6900 to my IRA FEDERAL MONEY MARKET FUND (settlement fund) in VG. My available balance shows $6900 however it is not yet reflecting in my money market fund. It'll probably be cleared by tomorrow or day after. Do I need to wait until the funds are available in the settlement account before converting to Roth? (this is what I did previously, but that also leaves small residual interest amount in the settlement fund (less than $10).

Ideally, I would love to have no residual amount in the IRA account.

Just convert "100%" of the tIRA to Roth and any gains will also be converted. Don't enter a dollar value to convert.

 

[NgineER]

I found that for back door Roth contributions (with Vanguard at least) you’ll have to keep the funds in your IRA for one day. I tried shorter, but that did not work.