Hi All
Does this indirect 60-day 401k rollover to Roth IRA break any IRS rules?
Specifically, does it break any IRS rules if:
Here's a picture of the generic situation:
Any insights would be greatly appreciated!
Does this indirect 60-day 401k rollover to Roth IRA break any IRS rules?
Specifically, does it break any IRS rules if:
- The 60-day rollover check is cashed before put into the Roth IRA?
- The rollover comes from 401k “after-tax account” contributions and taxable-earnings on those after-tax-contributions?
(NOT From a 401k Designated Roth Account. It’s just a regular 401k that also has a separate account for “after-tax-contributions” and their taxable earnings.)
- The IRS rollover chart does NOT list “after-tax” as an allowed rollover?
https://www.irs.gov/pub/irs-tege/rollover_chart.pdf
- The 20% withholding is “made-up-for" by taking money from a savings account so the amount being rolled over is the same as the 401k withdrawal distribution amount?
Here's a picture of the generic situation:
Any insights would be greatly appreciated!