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Investing in Fidelity ETFs/Mutual Funds in Roth IRA
Posted by Matthew M. on March 22, 2023 at 9:11 pmHello,
I submitted the form to fidelity to convert my after tax contribution to my Roth IRA account that I opened within fidelity. Once the money is in the Roth IRA, can I invest it in ETFs/Mutual Funds through the fidelity interface, or do I have to go about this differently and do it through your services in some way? Will the Fidelity interface stop me from investing more than $6,500 in my 2023 Roth IRA? Or will it allow these investments despite going over their set limit?
Thank you for your help.
George Blower replied 1 year ago 2 Members · 4 Posts -
3 Replies
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Top SubjectMega Backdoor Roth Solo 401k,Solo 401k Brokerage AccountTop ForumsMega Backdoor Roth Solo 401k, Solo 401k Brokerage Account
Matthew M.
March 22, 2023 at 9:11 pmTop SubjectMega Backdoor Roth Solo 401k,Solo 401k Brokerage AccountHello,
I submitted the form to fidelity to convert my after tax contribution to my Roth IRA account that I opened within fidelity. Once the money is in the Roth IRA, can I invest it in ETFs/Mutual Funds through the fidelity interface, or do I have to go about this differently and do it through your services in some way? Will the Fidelity interface stop me from investing more than $6,500 in my 2023 Roth IRA? Or will it allow these investments despite going over their set limit?
Thank you for your help.
Matthew M. -
George Blower
March 23, 2023 at 3:55 amThere is no limit on the amount of voluntary after-tax contributions that may be transferred from the voluntary after-tax Solo 401k sub-account to a Roth IRA. One may then invest Roth IRA funds directly through the Roth IRA account at Fidelity.
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Top SubjectMega Backdoor Roth Solo 401k,Solo 401k Brokerage AccountTop ForumsMega Backdoor Roth Solo 401k, Solo 401k Brokerage Account
Matthew M.
March 23, 2023 at 6:50 pmTop SubjectMega Backdoor Roth Solo 401k,Solo 401k Brokerage AccountHi, the limit I’m referring to is the 6,500 limit for investing in the Roth IRA. For example, I am currently moving 22,000 from the after tax account to the Roth IRA account. The 22,000 is just in a money market fund, to be invested once in the Roth IRA account. I wanted to make sure the $6,500 limit on the fidelity Roth IRA accounts was not going to create a hard stop on investing those funds. I will wait for the money to be converted and let you know if I have any issues from there. Thank you.
Matthew M.-
George Blower
March 24, 2023 at 4:09 amWhile we have not received feedback of the type of issue that you are describing, please keep us posted.
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