A 401K Rollover to 401K Roth Question

[amil23]

Got it. Okay Thanks guys. I've got to do some digging.

[Lowexpectations]

Originally Posted by StealthRabbit

I got my information from fidelity last week, on a similar/ identical 401k , (mine is 60% Roth 401k and 40% taxable (in the same 401k). To access any of those funds, the entire 401k must be closed and rolled to a rollover IRA. I'm no longer employed with my company that was having Fidelity manage 401k assets. So I can no longer dabble or withdraw from the 401k, and leave it intact.

Just the scoop for my custodian, Fidelity.

You simply don’t know what you are talking about. That’s the long and short of it. No one should take any advice on this topic from you

[Lowexpectations]

Originally Posted by StealthRabbit

And.... Yes, of course... If you close / rollover a blended 401k, the appropriate balances can be rolled to Roth and Taxable,with out immediate tax consequences (thus the term "Rollover" is a non-taxable event, until taking distributions).

Taxable basis of the rollover can only be applied to a Roth, based on eligibility.... Ie. Earned income and limits reported in the tax year of intended contribution.

All very well explained and executed within Fidelity.
No mystery or reporting error required.

You don’t need rollover Ira’s simply an Ira and a Roth IRA. Two checks get cut and deposited appropriately. Like I said no one should take your advice second hand from fidelity. You don’t know the topic well enough to give advice