Nov. 3rd, 2021: While the proposal to ban accredited investments in IRAs is still not in the latest pending bill, the Proposed Band of the Backdoor Roth & Mega Backdoor Roth is Back–See the following for more Information: https://www.mysolo401k.net/back-again-backdoor-roth-and-mega-backdoor-roth-added-back-to-pending-reconciliation-bill-build-back-better-act-of-2021/
Great news! The government has dropped from the pending Build Back Better Act the proposal to ban accredited investments from IRAs.
The additional provisions that would have impacted self-directed retirement accounts have also been removed from the bill:
- The proposed ban of the backdoor Roth and mega backdoor 401k including the Roth solo 401k has been removed.
- The proposed new required minimum distribution for high-balance retirement accounts has been removed.
- The proposed ban on Roth conversions for high-income taxpayers has been removed.
- The proposed ban on IRA accredited investments has been removed.
- Also, the IRA LLC or the solo 401k LLC will not be banned.
