[ree-kuh
n-vurt] 
| 1. | to convert again. |
| 2. | to change back to a previous form, opinion, character, or function. |
| re·con·vert (rē'kən-vûrt') intr. & tr.v. re·con·vert·ed, re·con·vert·ing, re·con·verts To undergo or cause to undergo conversion to a previous state or condition. re'con·ver'sion (-vûr'zhən, -shən) n. |
Reconversion
A method used by individuals to minimize the tax burden of converting by recharacterizing Roth IRA-converted amounts back to a Traditional IRA and then converting these assets back to a Roth IRA again. Be aware that the IRS released regulations in 1999 placing limits on reconversions.
Investopedia Commentary
Investors who want to reconvert to a Roth IRA must wait until the beginning of the new tax year following the tax year they recharacterized or a minimum of 30 days after the recharacterization is completed, whichever is later. For example, if you recharacterized a conversion contribution on Dec 15, 2004, you would not be able to reconvert until Jan 15, 2005. If you reconvert prior to these limits, the reconversion will be deemed a failed conversion by the IRS, and if not corrected may result in an excess contribution to the Roth IRA.
Related Links
Recharacterizing Your IRA Contribution or Roth Conversion
Did Your Roth IRA Conversion Pass or Fail?
See also: In-Service Withdrawal, IRA, IRA Adoption Agreement and Plan Document, IRA Conversion, Non-Qualified Distribution, Ordering Rules, Qualified Distribution, Recharacterization, Required Minimum Distribution, Roth IRA, Spousal IRA, Triggering Event