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Easier Rollovers from Roth IRAs to Designated Roth Accounts

New rules simplify moving funds from individual Roth IRAs to employer-sponsored designated Roth accounts. This gives citizens more flexibility in managing their retirement savings, without additional tax burdens when transferring funds.
Key points
Allows direct, tax-free transfers of money from a Roth IRA to a designated Roth account.
Simplifies retirement savings management for individuals changing jobs or consolidating funds.
Changes apply to amounts paid or distributed after the Act's enactment date.
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Expired
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Additional Information
Print number: 118_HR_6757
Sponsor: Rep. LaHood, Darin [R-IL-16]
Process start date: 2023-12-13
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

To amend the Internal Revenue Code of 1986 to permit the rollover contributions from Roth IRAs to designated Roth accounts.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_6757.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-12-13.

What are the main provisions?

Key points include:

  • Allows direct, tax-free transfers of money from a Roth IRA to a designated Roth account.
  • Simplifies retirement savings management for individuals changing jobs or consolidating funds.
  • Changes apply to amounts paid or distributed after the Act's enactment date.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. LaHood, Darin [R-IL-16].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Taxes