Is backdoor roth IRA permanent?

6 replies
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How long has the policy(backdoor Roth conversion) been around? Is there possibility that the policy will be cancelled? So that I should make roth conversion sooner than later?

Thanks.

Not A Product Question

NCperson

Level 15

@VAer - there was discussion in Congress in the last year to close the loophole, but it did not pass.

it has probably been around since the Roth IRA was passed into law in 1997 because it is the result of a loophole in the law and not a law that Congress intentionally passed.

VAerAuthor

Level 6

Ok, maybe I should make the conversion sooner than later, in case that it will be cancelled.

dmertz

Level 15

It's been possible since 1998, the year that Roth IRAs first became available, but not all could take advantage of it prior 2010 because the those with an AGI over $100k ($150k if married filing jointly) were not permitted to do Roth conversions. This AGI limit was eliminated for 2010 and beyond so that anyone could then do a Roth conversion.