Each time you process an in-plan conversion of pretax solo 401k funds to Roth Solo 401k funds, please complete the following on-line form.
IMPORTANT NOTE: If you are converting alternative
- If each participant is converting funds, please submit a separate on-line conversion form for each participant.
- It is best to submit this on-line conversion form once you have converted/moved the funds to ensure the correct amount is reported.
- We will issue the Form 1099-R in February 2023 to report the 2022 conversion.
In-Kind Conversion of Shares QUESTION:
Can I convert shares of stock in say Microsoft or Boeing owned in my pretax solo 401k to the Roth solo 401k?
Yes, you can convert shares in-kind held in the the pre-tax solo 401(k) to the Roth solo 401(k). You will need to coordinate the movement of the shares with the brokerage firm . Once you move the shares over, please fill out the above online conversion form so that we capture the information for issuing the Form 1099-R to report the taxable in-plan conversion.
