Use the button above to request a full or partial conversion of assets in the source Traditional, Rollover or SEP IRA account to a Roth IRA account or follow the steps below:
- Log into Client Portal with the IRA account you want to convert to a Roth IRA
- Click the User menu (head and shoulders icon in the top right corner) followed by Settings
- Under Account Settings find the section Tax
- Click IRA Conversion
- Enter the information of destination Roth IRA account, and then click Continue
- Review the rules for converting your IRA to a Roth IRA, as well as your current IRA account Total Equity and Cash Available for Withdrawal
- Update federal withholding and, if applicable, state income taxes (optional)
- Review your IRA conversion information and then click Continue followed by OK.
Please Note
- A backdoor Roth contribution is an IRA Conversion, and the same process applies.
- You may choose a full conversion (entire balance) or a partial conversion.
- If you choose a full conversion, the entire balance of your Traditional IRA, including any earnings, will be converted.
- Once a conversion is processed, it cannot be reversed. Make sure you understand what you are submitting.
- IRA conversions are subject to federal income tax withholding at a minimum rate of 10%, unless you elect otherwise.
- IBKR does not provide tax advice. Consult a qualified tax advisor regarding your individual situation and review IRS Publication 590 for further guidance
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