In-Plan 401(k) Roth Conversion

[Tom]

This may be a good year to consider an in-plan Roth conversion within one's 401(k), provided the plan document allows.   If someone converts now and the market drops a lot further, can they reverse their conversion before the end of the year?  I recall this was possible a few years ago.  If it is allowable, it may also depend on the record keeper.

Thank you,

Tom

[Lou S.]

Pretty sure conversions were made irrevocable some time ago by law. Forget which law.

[CuseFan]

Agree w/Lou, thought that was prohibited a few years back.

[pmacduff]

From the ever popular Google search:

 

"Can you undo a Roth conversion in 2021?

  You can't reverse your decision
  Today, recharacterization of converted Roth funds is prohibited by the Tax Cuts and Jobs Act. In other words, there's no going back once the conversion is done."