Tag Archives: Roth IRA

Mega Backdoor Roth Solo 401k Ban Passes House Hurdle But Senate Sign Off Still Needed

As reported previously, the Mega Backdoor Roth Solo 401k and IRA bans that had been added back to the Build Back Better Act of 2021 were included in the version of the legislation that passed the House today. While this is an important milestone for the legislation, there is still a ways to go legislatively. […]

Back Again! Backdoor Roth and Mega Backdoor Roth Added Back to Pending Reconciliation Bill Build Back Better Act of 2021

Last week in October the Backdoor Roth IRA and Mega Backdoor Roth including the Mega Backdoor Roth Solo 401k had been removed from the Pending Reconciliation Bill Build Back Better Act of 2021. While the new pending legislative text has not yet been released to the public, today, November 3, 2021 the provisions to ban […]

Proposed ban on IRA Accredited Investments Has Been Removed from Reconciliation Bill Build Back Better Act of 2021

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 […]

Mega Backdoor Roth IRA & Solo 401k is under attack…Call your Senator & Representative!

Nov. 3rd, 2021: 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/ Update as of October 28, 2021: Great news–The retirement account provisions found in the pending Build Better Act  bill have been defeated. See the following for more information: https://www.mysolo401k.net/proposed-ban-on-ira-accredited-investments-has-been-removed-from-reconciliation-bill-build-back-better-act-of-2021/  And https://www.mysolo401k.net/good-news-backdoor-roth-and-mega-backdoor-removed-from-pending-reconciliation-bill-build-back-better-act-of-2021/ While recent news reports of […]

IRA Conversion & IRA Recharacterizations Differences

The IRA conversion and IRA recharacterizing rules can be easily confused. Following are the differences between these two IRA transactions. What is a conversion? A conversion occurs when IRA funds including assets (e.g., real estate, IRA owned LLC, notes, and even equities) are moved from a Traditional IRA, SIMPLE IRA, and SEP IRA to a […]

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