When was the Roth IRA Law Created?

Answer Congress created the Roth Individual Retirement Account when it passed the Taxpayer Relief Act in 1997, a law that took effect in 1998. The law established what was then a new concept: IRA owners w... Read More »

Top Q&A For: When was the Roth IRA Law Created

When were roth iras created?

Roth IRA's were created when the Taxpayer Relief Act of 1997 was signed on August 5, 1997. The Restructuring and Reform Act of 1998 slightly amended the Taxpayer Relief Act to close several tax loo... Read More »

Does a roth 401k count as a holding period for a roth ira?

When you rollover money from a Roth 401k plan to a Roth IRA, the time in the Roth 401k does not count towards the five year requirement that must be satisfied before qualified distributions can be ... Read More »

Does the Roth phase-out affect the Roth?

The Roth Phase-Out affects your ability to continue contributing to a Roth IRA if your income is above a certain threshold. This phase-out only affects new contributions and does not affect Roth IR... Read More »

Can I have a Roth IRA& a Roth 401(k) at the same time?

The Internal Revenue Service does not prevent people from having both a Roth 401(k) plan and a Roth IRA at the same time. A Roth 401(k) plan must be through your employer while a Roth IRA must be s... Read More »