||Designated Roth Account
|Number of investment choices
||Many as long as not prohibited
||As offered by the plan
||Anyone with earned income
||Participant in a 401K, 403B or 457 governmental plan that allows designated Roth contributions
$6,000.00 if age 50 or over
$22,000.00 if age 50 or over
|Recharacterization of rolled over amounts
|Required Minimum Distributions
||Only after the original IRA owners death.
|Tax on nonqualified distributions
||Nonqualified distributions are distributed in this order:
1. Non Taxable contributions
2. Taxable earnings
|Nonqualified distributions are pro-rated between Roth Contributions (non-taxable) and earnings (taxable)
||Anytime. Maybe subject to tax if not a qualified distribution.
||Only when allowed by the terms of the plan.
Subject to tax if not a qualified distribution.
||Yes, if plan allows
|5 year holding period for qualified distributions
||begins January 1 of the year a contribution is made t any Roth IRA
||Separate for each Roth Account and begins on January 1 of the year contributions made to that account.
If one Roth Account
is rolled into another the earlier start date applies.
||Anyone but, if married the spouse must consent to nonspouse beneficiary.