Roth IRA Conversions

What is a Roth conversion?

A Roth conversion—often called a backdoor Roth—involves transferring assets from a Traditional (Pre-Tax) IRA to a Roth (Post-Tax) IRA. This allows future qualified distributions and investment growth to occur tax-free. There are no IRS limits on the number or dollar amount of conversions per year. For more on IRA rules, visit irs.gov.

How do I start the conversion process?

To begin a Roth conversion, ensure you have both a Roth IRA and a funded Traditional or Rollover IRA opened at Webull. Then:

1. Complete and sign the Roth IRA Conversion form.
2. For guidance, refer to the sample form provided sample document.
3. Once completed and signed, email the form to IRA@webull.com to initiate the conversion process.

How long does the process take?

Roth IRA conversions, when received in good order, are typically processed within 1-5 business days.

What else should I know?

When considering a Roth IRA conversion, please note:

• Roth conversions cannot be reversed or recharacterized back to a Traditional IRA.
• In-kind conversions are not supported; only cash conversions are allowed.
• Form 1099-R will be issued for the Traditional IRA to report the distribution.
• Form 5498 will be issued for the Roth IRA to report the contribution.

Webull Financial does not offer tax advice. Any integration with third-party tax software is provided for informational purposes only. For any questions about taxes, including how to file, you should contact a tax professional.