A 403(b) is a tax-advantaged retirement plan for employees of non-profit organizations and certain government entities. It’s broadly similar to a 401(k), but when it comes to Roth IRA conversions there are important differences from its more well-known cousin.
What Is a 403(b) to Roth Conversion?
A Roth IRA conversion is when you take money saved in a pre-tax retirement plan and roll it into a post-tax Roth individual retirement account. Doing so can be an important part of your tax planning strategy and reduce how much you’ll have to take in required minimum distributions (RMDs) later.
Unlike most 401(k) plans, the 403(b) doesn’t offer in-service withdrawals, which is when you take out money while still employed. Here’s how it works if you have a traditional 403(b) account.
If you would like to do a 403(b) to Roth IRA conversion, you either have to leave your current employer or be at least 59 ½ years old, when penalty-free withdrawals begin for qualified retirement plans.
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How to Convert a 403(b) to a Roth IRA
If you’ve satisfied one of the two conditions above, you can move funds from a traditional 403(b) to a Roth IRA.
Begin by opening a new, unfunded Roth IRA account at the brokerage of your choice. Then submit the required Roth conversion paperwork to your 403(b) plan administrator and your new Roth IRA custodian. This paperwork ensures that the rolled-over assets get reclassified from traditional (pre-tax) to Roth (post-tax) status.
Since you are moving pre-tax dollars into a post-tax account, you’ll need to pay income taxes on the funds. Depending on the size of your account, rolling over different amounts annually may be a better tax planning strategy than a lump-sum rollover. The amount rolled over is included in your adjusted gross income and taxed as income. The more you rollover, the higher you’re taxed.
Working with a financial advisor can help you determine how much to rollover and when to roll it over to avoid taxes taking out a big chunk of your savings. Once you’ve rolled over the funds, when it’s time to file your taxes for the year, you’ll file Form 8606 – Nondeductible IRAs with the IRS in order to cover taxes on the converted funds.
It’s always best to pay these taxes using money from outside your IRA, for a few reasons. First, you’ll keep more in your retirement account. In addition, if you’re under 59 ½ you avoid a 10% tax penalty on the funds used to pay the taxes. That portion wouldn’t roll into the Roth account, making it an early withdrawal from a qualified retirement plan subject to the penalty rate.
Why Consider a 403(b) Roth Conversion?
Those who choose to roll 403(b) plan assets into a Roth IRA do so for many of the same reasons those with 401(k) plans do, including:

Lower fees. Annual fees for IRAs with online brokers and robo-advisors can be substantially lower than those from your 403(b) plan, which often increase when you leave employment.
Avoiding RMDs. Unlike retirement plans funded with pre-tax assets, with required minimum distributions starting at age 72, Roth IRAs are completely free of RMDs.
More investment choices. Online brokers tend to offer IRA investors a much wider range of ETFs and mutual funds to choose from, as well as individual stocks.
Tax savings on withdrawals. You won’t run the risk of your tax-free Roth IRA distributions bumping up your tax bracket in retirement.
Improved tax management. Tax-free withdrawals also mean you don’t have to worry about future federal and state income tax increases.
Roth income doesn’t count toward provisional income. The IRS doesn’t consider income from Roth accounts when calculating how much of your Social Security income is taxable during retirement, which can boost your earnings.

But even with those benefits, doing a 403(b) Roth conversion might not make sense for everyone.
Should I Do a 403(b) Roth Conversion?
While the tax-free income might sound delightful, rolling a 403(b) into a Roth IRA takes more than a bit of planning to be successful—as well as a tax bill. Here’s how to determine if a Roth conversion makes sense for your 403(b) savings.
A 403(b) Roth conversion might make sense if:

You’re married
When a spouse dies, the surviving spouse encounters a sneaky tax hike when they go from a joint to single tax status.
“Inheriting Roth money protects your surviving spouse from tax increases on their withdrawals,” says Beau Henderson, a retirement income certified professional (RICP) at RichLife Advisors.
You’re not sure you’ll need the money in your 403(b)
If you don’t plan on drawing on your 403(b) plan during retirement, you might be inclined to keep it put and skip the Roth conversion. But not converting to a Roth leaves your savings subject to RMDs.
“There’s not much worse than being forced to take RMDs on money you don’t need, especially in a down market,” says Henderson, adding that the worst part is not having the option to leave the money be.
You want to create a legacy
The Roth conversion can make sense if you want to pass on the assets via your estate when you die. Henderson says that the Roth conversion creates a friendlier situation for inheritance since Roth assets have no tax burden for your heirs.
With pre-tax assets in qualified plans, your heirs will be forced to take withdrawals within a specific timeframe. They’ll also be subject to taxes on those forced withdrawals, which could be at a higher tax rate if they’re high-earners

A 403(b) Roth conversion might not make sense if…

You want to convert before age 59 ½
Since you can do a Roth conversion with a 403(b) plan at any age if you leave the employer sponsoring the plan, you might be tempted to do a Roth conversion immediately. However, William Bevins, a certified financial planner (CFP) in Franklin, Tennessee, urges caution if you’ll need to use funds you aim to convert within the next five years.
“For those under age 59 ½… a 10% penalty will apply to any principal withdrawn from the converted Roth IRA,” he says. While you could avoid the penalty if using the money for certain purposes like buying your first home or adoption and birth expenses, it’s best to leave converted funds untapped until after the five-year mark.
You don’t have cash to pay the tax bill
Depending on your 403(b) plan balance, the tax bill on a Roth conversion can be hefty. If you don’t have the cash to pay the taxes, you might want to keep the money in the 403(b) plan, or roll it over into a traditional IRA.
You can also decrease your tax burden using an incremental conversion strategy, which we outline below.
You have annual charitable commitments
If you convert 403(b) funds to a Roth and later make charitable gifts using the converted funds, Bevins says you’ll pay an unnecessary tax bill.
“It’s more beneficial to gift [to charity] directly from a traditional 403(b) in most cases,” he says. Consult your tax advisor for the best way to make charitable donations using retirement assets.
You anticipate being in a lower tax bracket during retirement
Roth conversions don’t make sense for those anticipating a lower retirement tax bracket. Doing a Roth conversion today would mean you’re paying tax at a higher rate than you would if you withdrew the funds after you hung up your spurs.

Incremental Roth Conversions: the Best Choice for Most Investors
If there’s any upside for investors who must wait to convert 403(b) plan assets to a Roth IRA until after they turn 59 ½, it’s that they could end up with a substantial nest egg. But that in turn has its own downside: A substantial tax bill that you might not have the cash to pay.
That’s why Henderson from RealLife Advisors recommends that investors use an incremental Roth conversion strategy for 403(b) plans. Here’s what that strategy looks like in action.
Say you have a 403(b) plan with a balance of $500,000. When you separate from service or reach age 59 ½, you would roll the 403(b) balance over to a traditional IRA. “Then, you can convert chunks of cash [to a Roth IRA] each year,” says Henderson.
With an incremental conversion strategy, you only convert what you can afford to pay taxes on each year. So while converting all the funds in your new traditional IRA to a Roth might take a while, you’ll avoid the massive tax bill that comes with a lump-sum conversion.
And finally, if you opt to use this strategy, Henderson offers one final bit of caution: Pay attention to your tax bracket.
“See where your income is for the year and how much room you have until you hit the next tax bracket,” he says. You don’t want your Roth conversion to cost more than it must.

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