Mega Backdoor Roth 2024 Fidelity

Mega Backdoor Roth 2024 Fidelity. This mega backdoor roth conversion article has been updated with information for the 2024 tax year. At the end of 2023, only about 11% of 401 (k) plans permitted mega backdoor roth conversions, according to data from fidelity investments.

At the end of 2023, only about 11% of 401 (k) plans permitted mega backdoor roth conversions, according to data from fidelity investments. A mega backdoor roth is a special type of 401(k) rollover strategy used by people with high incomes to deposit funds in a roth individual retirement account (ira) or roth 401(k).