Can you do it? I saw the option to do in-plan conversion, which means AT 401k will be converted to Roth 401k automatically. But to IRA? I know you can call fidelity every paycheck to tell them to do it, but I’m just too lazy to do that.
401k is provided by employer (restricted with limited investment portfolio) while IRA is individual retirement account (wide open). You can convert your 401k to Roth IRA from your old employer but not for your current employer.
I heard you can do that for the after tax part, hence the name mega backdoor.
Yes but your employer can set it up to allow for it automatically. Fb does for example
You don’t have to call every time. Just once to initiate it
Depends on the employer. Amazon for example has automatic after tax 401k to roth 401k, but manual roth 401k to roth IRA.
Same with Microsoft
Curious about this too