A Comprehensive Guide To The Super MEGA Backdoor Roth Strategy (Private Clients) 🔒

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Guide Summary:

• What are the nondiscrimination tests?

• Do we have to worry about passing the nondiscrimination tests if our spouse works with us?

• Terms you need to know

• The super MEGA backdoor Roth strategy. How to contribute up to $71,500 to Roth accounts for the 2021 tax year.

• The Backdoor Roth IRA Strategy

• The MEGA Backdoor Roth Strategy

• The benefits of making voluntary after-tax contributions

• 3 Ways to Complete a Rollover Starting With The Best Option

• Avoiding the tax withholding requirements

• IRA one-rollover-per-year rule

• Rollover Chart

• Liability protection

• Recharacterization

• Pro-rata rule

• Puzzling questions on the five-year test on Roth conversion

• The five-year test

• Exceptions to 10% Early Withdrawal Penalty For IRAs - IMPEACHEDD (Acronym)

• Distribution rules

• Rollovers to multiple destinations

• How do you know if your employer offers voluntary after-tax contributions?

• What is the difference between contributing to an employer’s after-tax separate account and contributing to a Roth IRA, Roth 401(k) plan, and Roth 403(b) plan?

• How will after-tax contributions appear in your plan? 

• Form 1099-R

• Which plans allow voluntary after-tax contributions?

• Why does my employer not offer an after-tax separate account?

• Can I roll over just the after-tax amounts in my retirement plan to a Roth IRA and leave the remainder in the plan?

• Can I roll over my after-tax contributions to a Roth IRA and the earnings on my after-tax contributions to a traditional IRA?

• Best practices