The Mega Backdoor Roth 401(k) is very much available in 2023. In fact, you can still perform a Backdoor Roth for the 2022 taxable year.
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The Mega Backdoor 401(k) has been a popular strategy for high-income earners to maximize their retirement savings. However, as we look towards 2023, many are unsure if this option will still be available.

First, let’s review what the Mega Backdoor 401(k) is. It is a way for employees to contribute additional after-tax dollars to their 401(k) plans beyond the regular contribution limit. This allows for potentially thousands of dollars more in contributions each year, which can significantly add up over time.

So why might the Mega Backdoor 401(k) be in jeopardy of disappearing in 2023? One possible reason is the proposed changes to the tax code from the current administration. President Biden has suggested increasing the tax on capital gains and dividends, which could potentially decrease the incentive for high-income earners to use this strategy.

Another potential reason is the ongoing debate about the legality of the Mega Backdoor 401(k). Some argue that it violates nondiscrimination rules, while others believe it’s perfectly legal as long as all employees have access to it. If the legality of this strategy is challenged and deemed illegal, it could no longer be an option.

Despite these potential challenges, it’s important to note that the Mega Backdoor 401(k) has become increasingly popular among employers and employees alike. It provides a unique opportunity to save more for retirement and can be especially beneficial for those who have already maxed out their regular 401(k) contributions.

So, is the Mega Backdoor 401(k) still available in 2023? The answer is uncertain. It will depend on a variety of factors, including potential tax code changes and legal challenges. However, for now, high-income earners who are interested in this strategy should continue to explore and take advantage of it while it’s still an option.