In-Plan Roth Conversion Form - Oregon Savings Growth Plan
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4In-Plan Roth Conversions –
Frequently Asked Questions
The following Frequently Asked Questions have been published by the Internal Revenue Service. You are strongly urged to consult
with an accountant and/or tax advisor before making your final decision and in the completion of the Oregon Savings Growth Plan
(OSGP) In-Plan Roth conversion form. An in-plan Roth conversion involves complex income tax issues and once it is processed, it is
irrevocable and cannot be reversed. While OSGP representatives are able to explain the options to you, they cannot tell you whether
an in-plan Roth conversion is appropriate for you. OSGP will not provide tax or legal advice. Neither this document nor the In-Plan
Roth conversion form represents tax or legal advice.
What is an “in-plan Roth conveRsion”?
An in-plan Roth conversion is a conversion from your account, other than an account that holds designated Roth contributions,
to your designated Roth account in the same plan.
Who is eligible to do an in-plan Roth conveRsion?
Participants, surviving spouse beneficiaries and alternate payees who are current or former spouses are eligible to do an in-plan
Roth conversion in a plan offering these conversions.
What amounts may i conveRt in an in-plan Roth conveRsion?
You can convert any vested plan balance, including earnings, to a designated Roth account, even if these amounts cannot
otherwise be distributed to you. You can make an in-plan Roth conversion of:
• elective deferrals,
• pre-tax rollover contributions, and
• earnings on the above contributions
The plan can specify which of these amounts are eligible for in-plan Roth conversions and how often these conversions can be done.
Prior to 2013, only eligible rollover distributions could be converted to a designated Roth account.
If you want to convert monies in the Self-Directed Brokerage Account (SDBA) administered by Charles Schwab, it is your
responsibility to contact the SDBA provider to transfer the funds to be distributed to the core investments (non self-
directed brokerage investments) before OSGP can process your in-plan Roth conversion.
if i elect an in-plan Roth conveRsion, can i lateR unWind the in-plan Roth
conveRsion, as can be done With conveRsions to Roth iRas?
No. The re-characterization rule in Internal Revenue Code Section 408A(d)(6) applies only to contributions to IRAs.
is income tax Withholding RequiRed on in-plan Roth conveRsions?
There is no income tax withholding required on an in-plan Roth direct conversion at the time of the conversion.
800 Summer Street N.E., Suite 200, Salem, OR 97301 / 503.378.3730 (Phone) / 503.378.5888 (Fax) /
172184 3038503.G.P-1
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