Can I transfer a Roth IRA to 401k or Solo 401k?

QUESTION:  I want to transfer my Roth IRA with Equity Trust to your solo 401k. Can you please provide guidelines for processing it as a direct rollover?

Regards, Dawn in FL

ANSWER: While the 401k regulations allow for annual Roth 401k contributions, the regulations do not permit for the transfer of Roth IRA funds to a 401k, whether a 401k for the self-employed such as a solo 401k, or a traditional 401k for full-time employees. Moreover, the regulations further restrict the transfer of a Roth IRA the designated Roth account portion of the 401k (commonly referred to as a ROTH Solo 401k or Roth 401k).

The restriction with respect to not being allowed to transfer or direct rollover a ROTH IRA to a 401k is listed  in IRS Publication 590-A. CLICK HERE to read about this restriction.

About Mark Nolan

Each day I speak with energetic entrepreneurs looking to take the plunge into a new venture and small business owners eager to take control of their retirement savings. I am passionate about helping others find their financial independence. Having worked for over 20 years with some of the top retirement account custodian and insurance companies I have a deep and extensive knowledge of the complexities of self-directed 401ks and IRAs as well as retirement plan regulations. Learn more about Mark Nolan and My Solo 401k Financial >>

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