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In Plan Roth Conversion Form (for converting Employer Match)
Reliant allows missionaries field workers to convert their employer match to Roth contributions. The amount The amount that is converted to Roth will be taxable to the missionary worker in the form of a 1099 that the employee will receive from Principal Financial Group. This This 1099 must be included with the missionaryworker's tax filing for the appropriate year.
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You have to be employed by Reliant for 5 years to pursue this option.
Please contact the Employment Services team at benefits@reliant.org if you have questions about how to fill out this form or the tax implications.
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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. |
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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 |
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