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IRA to Roth Conversion-Penalty?

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    #1

    IRA to Roth Conversion-Penalty?

    When this conversion occurs, does the participant incur a 10% penalty if he is under 59-1/2 or is it waived?
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    #2
    Roth Conversion Penalty

    For those under 59 1/2, there is no 10% early distribution penalty as long as the rolled over funds remain in the Roth IRA for at least five years. (Notice 2009-75 and 2009-39 IRB)

    Edward

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