In Plan Roth Conversion Form (for converting Employer Match)
Reliant allows field workers to convert their employer match to Roth contributions. The amount that is converted to Roth will be taxable to the worker in the form of a 1099 that the employee will receive from Principal Financial Group. This 1099 must be included with the worker's tax filing for the appropriate year.
To convert your Employer Match contributions to Roth use this form. In most cases you'll select "Active Participant" under Section 2, Type of In-Plan Conversion.
You have to be employed by Reliant for 5 years to pursue this option.
Please contact the Payroll Team (payroll@reliant.org) if you have questions about how to fill out this form or the tax implications.
International Employees Please Read
Reliant encourages all international employees to seek tax counsel regarding IRS ruling 70-491 when determining if the Roth option is something they should utilize for their retirement savings. There may be tax implications of selecting Roth for your retirement funds while filing under the Foreign Earned Income Exclusion to consider and discuss with your tax counsel.
See Additional option - Roth Transfer Form
Another option that can be used to convert both previous matched funds or previous employee contributions that were made pre-tax see Roth Transfer Form
