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Fidelity – MBDR – Daily Roth In-Plan Conversion
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1 Reply
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Has anybody that holds their solo 401K accounts with Fidelity figured out a way to auto-convert any voluntary after-tax contributions to solo 410k roth accounts so that a manual conversion (phone call) isn’t necessary with every contribution/conversion??
Fidelity seems to state that an auto-convert feature is available on a plan-by-plan basis? What would that require of us to enable such a feature?
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While Fidelity doesn’t currently support auto-conversion for accounts opened for a third-party Solo 401k plan like our plan, the funds can be move internally and electronically from the Voluntary After-tax account to the Roth Solo 401k account. Based on experience and client feedback, this can be initiated by calling the team at Fidelity (800-544-5373) that supports investment-only accounts.
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