ATTENTION ALL SELF-DIRECTED IRA INVESTORS: In case you didn’t know, there are a couple of Roth Conversion deadlines approaching that you should be aware of. A Roth conversion entails taking your pre-tax Traditional, SEP, or SIMPLE IRA, paying income tax on the amount you’d like to convert, and ultimately getting your IRA into a completely tax-free Roth IRA.

So what are the proposed changes to Roth Conversions in the current administration’s Infrastructure Bill, and what deadlines do you, the self-directed IRA investor, need to be aware of? If the bill were to pass as is, there will be two specific changes related to Roth conversions. #1 – If you exceed certain income limits either as a single or joint filer, you will no longer be able to convert pre-tax funds after December 31st, 2021. #2 – If you have a company sponsored 401k plan, or a Solo401K for your self-employed business, you will no longer be bale to do In-Plan Roth conversions of your Employer’s pre-tax contributions after the same date December 31st 2021. #3 – Regardless of the Infrastructure Bill, 2021 Roth Conversions must be done before December 31st as well.

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