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Annuity Rollover to Roth IRA

Posted on 4/5/23 at 10:12 am
Posted by ThreauxDown
Member since Jan 2019
648 posts
Posted on 4/5/23 at 10:12 am

I’m vested with my current employers annuity benefit (value around 50-70k) but may be jumping ship.

New company has no annuity. I know there is a way to roll it over into a traditional IRA but I want it to eventually be a Roth IRA.

So if I roll over to a traditional then convert to Roth will taxes be taken out of the rollover or will I need to pay the taxes when I go to file?

Also is there a maximum amount when it comes to rolling over into a traditional or converting to a Roth?
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