Roth IRA Conversions

What is a Roth conversion?

A Roth conversion, often referred to as a backdoor Roth, involves converting some or all of the assets from your Traditional (Pre-Tax) IRA to a Roth (Post-Tax) IRA. This process allows your portfolio and future qualified distributions to grow entirely tax-free. To learn more about IRAs and the rules that govern them, please visit irs.gov.

How do I start the conversion process?

In order to perform a backdoor Roth conversion, you will need to have a Roth IRA opened, and a funded Traditional/Rollover IRA account opened here at Webull. Once both IRA account types are opened, please complete the following steps:

1. Complete and sign the Roth IRA Conversion form. For instructions on how to complete the form, please view the sample document.
2. Once completed and signed, email IRA@webull.com to initiate the conversion process.

How long does the process take?

Roth IRA conversions, when received in good order, are typically processed within 1-5 business days.

What else should I know?

It is important to note the following when considering a Roth conversion:

• Roth IRA Conversions cannot be reversed or recharacterized back into a Traditional IRA.
• For an in-kind Roth IRA conversion, where shares are transferred directly from an IRA to a Roth IRA, the shares are valued based on the closing price of the previous trading day.
• Currently, in-kind Roth IRA conversions are not supported for Omnibus accounts. You can only convert cash from an Omnibus account, not securities.

To check if your account is under the Apex clearing arrangement or Omnibus arrangement, please click here or visit the in-app Help Center after logging in and tap on Account Conversion Status.

Webull Financial does not offer tax advice. Any integration with third-party tax software is provided for informational purposes only. For any questions about taxes, including how to file, you should contact a tax professional.