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Deadlines may also be found on the IRS Web site, irs.gov. The Custodian of your Fidelity IRA, Fidelity Management Trust Company, and its agents, affiliates, or successors assume no responsibility for any tax consequences due to this transaction. Consult your tax advisor. Regular Mail: Fidelity Investments Attn: Distributions KC1B PO Box 770001 Cincinnati, OH 45277-0035 Overnight Mail: Fidelity Investments Retirement Distributions KC1B 100 Crosby Parkway Covington, KY 41015-4325 Fidelity IRA R.

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To recharacterize a regular IRA contribution, you tell the trustee of the financial institution holding your IRA to transfer the amount of the contribution plus earnings to a different type of IRA (either a Roth or traditional) in a trustee-to-trustee transfer or to a different type of IRA with the same trustee.

Think of IRA conversions as allowing you to transfer funds from a non-Roth IRA account into a Roth IRA account, often with a taxable impact. Think of IRA recharacterizations as a set of special rules allowing you to change your mind about the type of your current year IRA contribution.

When to complete your IRA contribution recharacterization. Your contribution must be recharacterized on or before your tax-filing deadline for the year for which it was made. The IRS generally provides an extended time frame—until October 15—to complete your recharacterization.

You must recharacterize a Roth IRA contribution before you file your taxes. If you opt for the six-month filing extension, your deadline is October 15 of the year following the year in which you make the adjustment.

The Tax Cuts and Jobs Act prohibits Roth IRA conversion recharacterizations, but you can still recharacterize an IRA contribution from one type of IRA to another.

To recharacterize a regular IRA contribution, you tell the trustee of the financial institution holding your IRA to transfer the amount of the contribution plus earnings to a different type of IRA (either a Roth or traditional) in a trustee-to-trustee transfer or to a different type of IRA with the same trustee.

In the past, you could change your mind and recharacterize that Roth conversion back to a traditional IRA. However, the Tax Cuts and Jobs Act (TCJA) of 2017 banned recharacterizing the account balance of a Roth conversion back to a traditional IRA. 5 Roth IRA conversions are now irrevocable.

A recharacterization of a Roth conversion means that the converted funds are transferred back to a Traditional IRA, eliminating the taxes that would have otherwise been owed on that amount.

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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232