Although not well thought out, the Roth 401(k) conversion provision in the American Taxpayer Relief Act of 2012 could be a great opportunity for some investors moving forward.

Since provision 902 of the bill was a last minute decision, the U.S. Department of the Treasury and Internal Revenue Service must issue some guidance, said Bob Kaplan, vice president and national training consultant at ING Investment and a member of the government affairs committee for the American Society of Pension Professionals & Actuaries, in a webinar this week.

The provision's main purpose was to raise about $12.2 billion over the next 10 years, Kaplan said. The belief was that if given the chance, many people would convert large portions of their 401(k) plans to Roth 401(k) plans to better manage their taxes in retirement.