How do I convert a Traditional IRA to a Roth IRA?

Step 1

In order to convert a Traditional IRA to a Roth IRA, you’ll need to open a Roth IRA. Learn more about opening a Roth IRA.

Select Balances & holdings under the My Accounts dropdown in the main navigation.

Step 2

On the Balances & holdings page, find the Traditional IRA you want to convert, then select the Convert to Roth IRA option.

Step 3

On the Convert to a Roth Brokerage IRA page, review the information listed on the page.

Confirm that the Traditional IRA you want to convert is selected under Step 1: Choose an account to convert. Next, make your selection to Convert part of the account in shares or Convert all of the account.

Step 4

Under Step 2: Select the holdings to convert, enter the Dollar amount you want to convert from your Traditional IRA to a Roth IRA. If you chose Convert all of the account in Step 1, then you will not have to enter an amount.

Step 5

Next, under Step 3: Choose the Roth IRA account to convert to, choose the Roth IRA that you want to convert from the dropdown menu. Note that if you choose Open a new Roth IRA, you will be taken away from this page.

Step 6

In Step 4: Tax withholding, review and acknowledge that federal and state income taxes will not be withheld from this conversion.

Select CONTINUE when you are ready to review.

Step 7

On the Review and submit page, review your conversion details and select SUBMIT to place your conversion order.