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Final IRS Regs: Converting Non-Roth IRA Annuity to a Roth IRA (PDF)
Internal Revenue Service [IRS] 
[Official Guidance] July 28, 2008
11 pages; effective July 29, 2009. Excerpt: Like the proposed regulations, these final regulations clarify that when a non-Roth individual retirement annuity is converted to a Roth IRA, the amount that is treated as distributed is the fair market value of the annuity contract on the date the annuity contract is converted. Similarly, when a non-Roth individual retirement account holds an annuity contract as an account asset and the account is converted to a Roth IRA, the amount that is treated as distributed with respect to the annuity contract is the fair market value of the annuity contract on the date the annuity contract is converted (that is distributed or treated as distributed from the non-Roth IRA).
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