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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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Additional Information
To amend the Internal Revenue Code of 1986 to permit the rollover contributions from Roth IRAs to designated Roth accounts.
Print number: HR 6757
Sponsor: Rep. LaHood, Darin [R-IL-16]
Process start date: 2023-12-13