Registered investment advisors who consult clients with retirement income rolled into IRAs will want to note an important deadline for undoing, or reversing, conversions of assets from traditional IRAs to Roth IRAs, and vice-versa.
According to the IRS’s website, the deadline for “re-characterization” of assets that were moved from one form of an IRA to the other is Oct. 15.
That means savings that were moved from a traditional IRA to a Roth in 2013 can be transferred back into a tradition IRA by the deadline, without incurring tax exposure.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
