What is an IRA recharacterization?

Yes, IBKR supports internal funds or position transfers for IRA accounts with a matching Account Type, Account Title, and tax ID. The IRA accounts need to be the same type of IRA (ie. traditional/traditional or Roth/Roth) in both accounts. 

Request may be submitted within Client Portal:…

REQUEST CONVERSION

Use the button above to request a full or partial conversion…

A reconversion is a second conversion (following a recharacterization) from a non-Roth IRA to a Roth IRA. In a reconversion, the taxpayer has already made a first conversion from a non-Roth to a Roth IRA and then recharacterized the conversion amount (including net earnings) back to a non-Roth IRA. You may not convert, re-characterize and then re-convert in the same tax year. 1099-R reporting is required for the distribution from the non-Roth IRA and Form 5498 for the contribution to the Roth IRA. Refer to…

Yes, it is possible to consider a rollover of funds from your retirement plan directly into a Roth IRA. Any amount rolled over is subject to the same rules for converting a traditional IRA into a Roth IRA. Also, the rollover contribution must meet the rollover requirements that apply to the specific type of retirement plan…