S.D. Admin. R. 62:03:06:03.03
A participant may convert his or her pre-tax contributions to designated Roth contributions within the plan. The amount of the in-plan Roth conversion is subject to ordinary income taxes in the year of the conversion, and withholding of federal income tax from the conversion amount is prohibited. Once an in-plan Roth conversion is processed it is irrevocable. The amount of an in-plan Roth conversion shall continue to be taken into consideration for mandatory distributions. The plan shall establish and maintain separate recordkeeping for any in-plan Roth conversion made within the plan and shall record the year in which the participant first made a conversion.
S.D. Admin. R. 62:03:06:03.03
General Authority: SDCL 3-13-57.
Law Implemented: SDCL 3-13-57.