Roth Conversion Statistics and Trends (2026)

In the one tax year for which the Internal Revenue Service published a complete Roth conversion count, 869,400 taxpayers converted a combined $64.8 billion into Roth IRAs in tax year 2010, an increase of over 800 percent from the prior year and the first year on record in which conversion dollars exceeded annual Roth contributions (Source: IRS Statistics of Income, “Accumulation and Distribution of Individual Retirement Arrangements, 2010,” SOI Bulletin Fall 2013, Table 1). That single-year spike, driven by the removal of the income limit on conversions, remains the reference point for understanding how Roth conversion behavior responds to changes in tax law.

Why tax year 2010 is the anchor for every Roth conversion statistic

Roth conversion data is unusually fragmented. The only federal, primary-source dataset that reports both a taxpayer count and a total dollar amount for Roth conversions on a single line is the IRS Statistics of Income (SOI) bulletin article “Accumulation and Distribution of Individual Retirement Arrangements, 2010” (Source: Bryant and Gober, SOI Bulletin Fall 2013). That article draws on a matched file of Forms 1040, 1099-R, and 5498, with Form 8606 serving as the taxpayer reporting mechanism for conversions. Its Table 1 reports that 869,400 taxpayers converted $64,767,827 thousand, or approximately $64.8 billion, out of traditional IRAs and into Roth IRAs in tax year 2010.

The dedicated SOI series that broke out conversions as a separate line effectively ended with the tax year 2010 article. The current SOI IRA series, covering tax years 2022 and 2023 under a revised methodology, publishes Roth contributions and account holder counts by plan type, adjusted gross income, and age, but it does not publish a standalone Roth conversion count or dollar figure (Source: IRS SOI, “Accumulation and Distribution of Individual Retirement Arrangements,” landing page). As a result, for years after 2010, aggregate conversion dollars come from industry data compiled by the Investment Company Institute (ICI), often reproduced in reports by the Congressional Research Service (CRS). This report labels every figure by source and tier so the two families are never confused.

Understanding conversion timing also connects directly to the broader retirement tax picture. Conversions add to taxable income in the year they occur, which can interact with items such as Medicare IRMAA brackets, the taxation of Social Security benefits, and the Net Investment Income Tax. These interactions are one reason conversion activity is studied closely.

Roth conversion volume over time

The table below combines the IRS primary series for 2004 through 2010 with the ICI industry series for 2011 through 2022. The two families are produced by different methodologies and are not splice-comparable across the 2010 to 2011 break. Readers should treat the IRS rows and the ICI rows as separate series that happen to describe the same phenomenon.

The IRS Figure B series is explicitly labeled tax years 2004 through 2010 and reads 2.8, 2.6, 2.8, 2.2, 3.7, 6.8, then 64.8 (Source: IRS SOI Bulletin Fall 2013, Figure B). The ICI series for 2011 through 2020 is reproduced in CRS Report R48456, which attributes it to ICI’s “The US Retirement Market, Q3 2024,” Table 12 (Source: CRS R48456, 2025, Figure 3).

Worked example: reproducing the “over 800 percent” figure

The IRS narrative states that conversions “rose over 800 percent, to $64.8 billion in 2010” (Source: IRS SOI Bulletin Fall 2013). Using the Figure B baseline of $6.8 billion in 2009, the arithmetic is (64.8 minus 6.8) divided by 6.8, which equals 8.53, or 853 percent. Expressed as the RCII multiple, 64.8 divided by 6.8 equals 9.53x. Both computations reproduce the published narrative, which serves as a cross-check that the 2009 baseline is correctly identified.

What drove each move: the tax-law timeline

Conversion activity tracks statutory change closely. Two provisions dominate the record.

• 2010 income-cap removal. Prior to 2010, only individuals with modified adjusted gross income below $100,000 could convert to a Roth IRA. Effective for tax years beginning after 2009, the Tax Increase Prevention and Reconciliation Act of 2005 (TIPRA) lifted that cap, opening conversions to all income levels (Source: IRS SOI Bulletin Fall 2013). Taxpayers could also elect to spread the 2010 conversion tax over 2011 and 2012. The IRS reports that the largest dollar increases occurred at income levels of $200,000 or more.
• 2018 recharacterization repeal. The Tax Cuts and Jobs Act of 2017 (P.L. 115-97), effective January 1, 2018, repealed the ability to recharacterize, or reverse, a Roth conversion (Source: IRS, Tax Cuts and Jobs Act page). Under prior law a taxpayer could undo a conversion if markets fell afterward. After 2018 that option no longer exists, which changed conversion timing and the amounts taxpayers commit to convert.

A third, non-legislative driver appears in 2020. The suspension of required minimum distributions under the CARES Act (P.L. 116-136) is cited as a partial explanation for that year’s elevated conversions (Source: CRS R48456, 2025). For readers tracking how distribution rules interact with conversion planning, see the related coverage of required minimum distributions and the SECURE 2.0 Act provisions.

The ICI participation series corroborates the dollar pattern. The share of Roth IRA investors who made a conversion in a given year was under 2 percent before 2010, rose to over 5 percent in 2010, averaged about 3 percent from 2011 through 2018, and edged up to 4 percent in 2019 and 5 percent in 2020 (Source: ICI, “Roth IRA Investors’ Activity, 2010-2020,” July 2024). ICI notes that “few Roth IRA investors have conversions in any year.”

The Roth Conversion Intensity Index (RCII)

Because dollar levels are not comparable across source families, the RCII is computed within each family separately. The index shows how far above its own pre-lift baseline conversion activity ran in a given year.

The ICI-family RCII peaks at 8.75x in 2020 ($35B divided by $4B), a magnitude that, relative to its own baseline, approaches the 9.53x reading the IRS family recorded for the 2010 legal shock. A derived secondary metric confirms the same 2020 story: conversions of $34.5 billion divided by total Roth inflows of $85 billion equals 40.6 percent, meaning conversions were the single largest inflow component that year, ahead of contributions at 38.8 percent and rollovers at 20.6 percent (Source: CRS R48456, 2025).

Roth IRA assets over time

Roth IRA assets have grown substantially in dollar terms while remaining a minority of all IRA assets. The IRS reports Roth IRA year-end fair market value of $354.9 billion in 2010 (Source: IRS SOI Bulletin Fall 2013, Table 1). ICI figures compiled by CRS track the series thereafter.

For composition context, as of the 2023 estimate ICI figures place total IRA assets at $13,556 billion, split into traditional IRAs of $11,441 billion (84.4 percent), Roth IRAs of $1,405 billion (10.4 percent), and employer-sponsored IRAs of $710 billion (5.2 percent) (Source: CRS R48456, 2025, Table 1). Roth IRA assets grew roughly fourfold from $354.9 billion in 2010 to approximately $1,405 billion in 2023, yet still represented about 10 percent of all IRA assets.

Total IRA market context

Roth growth sits inside a rapidly expanding IRA market. The IRS reported total IRA fair market value of $5.03 trillion at year-end 2010 (Source: IRS SOI Bulletin Fall 2013). ICI reports the market has grown well beyond that level.

ICI describes IRAs as the largest and fastest growing component of the US retirement market and reports that at year-end 2025 IRAs held nearly double the assets of 401(k) plans, approximately $19.2 trillion versus approximately $10.1 trillion (Source: ICI Quarterly Retirement Market Data, Q4 2025). At year-end 2025, 39 percent of IRA assets, or $7.4 trillion, were invested in mutual funds. By March 31, 2026, mutual funds represented 40 percent of IRA assets, or $7.3 trillion (Source: ICI Quarterly Retirement Market Data, Q1 2026).

Who owns Roth IRAs: household ownership over time

Two authoritative sources measure Roth ownership: the Federal Reserve Survey of Consumer Finances (SCF), a primary federal survey, and ICI’s household surveys. They report different levels for methodological reasons, so the rows below should not be read as a single continuous series.

The SCF figure of 16.1 percent and the ICI figure of 27.8 percent differ largely because the SCF excludes employer-sponsored IRAs and uses the “primary economic unit” household definition, while ICI uses its shareholder-tracking survey. The roughly twelve-point gap is a measurement difference, not a one-year jump. In mid-2025, ICI reports that 44 percent of US households owned any type of IRA, up from 34 percent a decade earlier, with traditional IRAs owned by 33 percent of households and Roth IRAs by 28 percent (Source: ICI Research Perspective Vol. 32 No. 7, June 2026).

Roth ownership by age band

One of the most durable patterns in the data is that Roth IRA ownership skews younger and is flatter across age than traditional IRA ownership, which rises steeply with age. The SCF 2022 analysis and the ICI mid-2025 survey both show this, using different measurement bases.

In the SCF 2022 data, Roth IRA ownership peaks at 20.2 percent among households headed by someone aged 35 to 44 and declines with age, the inverse of traditional IRA ownership, which rises from 4.5 percent among the under-35 band to 24.8 percent among households 65 and older (Source: SCF 2022 via CRS R48456). Among households under 45, Roth ownership of 17.4 to 20.2 percent far exceeds traditional ownership of 4.5 to 6.4 percent.

The ICI mid-2025 survey shows the same qualitative pattern: Roth ownership is relatively level across age, while traditional ownership climbs to 48 percent among households 65 or older (Source: ICI Research Perspective Vol. 32 No. 7, June 2026). ICI states directly that “Roth IRA-owning households tend to be younger.” These age patterns matter for planning topics such as the retirement tax window and account balances by age, covered in the related discussion of retirement account balances by age.

Contribution activity and recent momentum

ICI reports that 17 percent of all US households contributed to a traditional or Roth IRA in tax year 2024, up from 16 percent in tax year 2023 and 11 percent in tax year 2017 (Source: ICI Research Perspective Vol. 32 No. 7, June 2026). Among households owning a traditional or Roth IRA in mid-2025, 38 percent contributed in tax year 2024. By type, 42 percent of Roth IRA-owning households contributed in tax year 2024 versus 23 percent of traditional IRA-owning households, with a median Roth contribution of $5,300 and a median traditional contribution of $5,000.

Provider-level data offers a more recent, though narrower, view. These figures are single-firm and are not market-wide. Fidelity reports that in the first quarter of 2026, 67 percent of all IRA contributions at Fidelity went into Roth IRAs and that Roth conversion transactions were up 41 percent year over year (Source: Fidelity Q1 2026 Retirement Analysis, via 401kSpecialist). Cerulli Associates has estimated approximately $941 billion rolling into IRAs in 2026, rising to $1.3 trillion by 2031 (Source: Cerulli Associates, via 401kSpecialist). Both are provider or consultant figures and are excluded from the market-wide tables above.

Frequently asked questions

How many taxpayers converted to a Roth IRA in 2010?

In tax year 2010, 869,400 taxpayers converted to a Roth IRA (Source: IRS SOI Bulletin Fall 2013, Table 1). This is the only tax year for which the IRS published both a taxpayer count and a dollar total on a single Roth conversion line.

How much money was converted to Roth IRAs in 2010?

Approximately $64.8 billion, precisely $64,767,827 thousand, was converted from traditional IRAs to Roth IRAs in tax year 2010 (Source: IRS SOI Bulletin Fall 2013, Table 1).

Why did Roth conversions spike in 2010?

Effective for tax years beginning after 2009, the Tax Increase Prevention and Reconciliation Act of 2005 removed the $100,000 modified adjusted gross income cap on conversions, opening them to all income levels. Taxpayers could also spread the 2010 conversion tax over 2011 and 2012 (Source: IRS SOI Bulletin Fall 2013).

By how much did Roth conversions increase in 2010?

Conversions rose over 800 percent, from $6.8 billion in 2009 to $64.8 billion in 2010 (Source: IRS SOI Bulletin Fall 2013). The precise figure is 853 percent using the reported baseline.

Did Roth conversions ever exceed Roth contributions?

Yes. According to the IRS, 2010 was the first year on record in which the amount converted to Roth IRAs surpassed annual Roth contributions (Source: IRS SOI Bulletin Fall 2013).

Does the IRS still publish Roth conversion totals?

Not as a standalone line. The dedicated SOI series that broke out conversions ended with the tax year 2010 article. The current SOI IRA series for tax years 2022 and 2023 publishes Roth contributions, not a separate conversions figure (Source: IRS SOI landing page).

Where do post-2010 conversion figures come from?

For years after 2010, aggregate conversion dollars come from ICI industry data, frequently reproduced in Congressional Research Service reports (Source: CRS R48456, 2025). These are industry figures, not IRS primary data.

How much was converted to Roth IRAs in 2020?

ICI figures show approximately $34.5 billion converted in 2020, which was 40.6 percent of $85 billion in total Roth IRA inflows and the largest single inflow component that year (Source: ICI via CRS R48456, 2025). A rounded figure of $35 billion appears in the same report’s chart.

How much was converted to Roth IRAs in 2022?

ICI figures place conversions at $36.5 billion in 2022, described as the largest source of inflows to Roth IRAs that year (Source: ICI via CRS RL34397).

Why were 2020 conversions elevated?

The suspension of required minimum distributions under the CARES Act is cited as a partial explanation for elevated conversions in 2020 (Source: CRS R48456, 2025).

What share of Roth investors convert in a typical year?

Historically a small share. ICI reports the figure was under 2 percent before 2010, over 5 percent in 2010, about 3 percent on average from 2011 to 2018, 4 percent in 2019, and 5 percent in 2020 (Source: ICI, “Roth IRA Investors’ Activity, 2010-2020,” July 2024).

How did the 2018 tax law change affect conversions?

The Tax Cuts and Jobs Act of 2017, effective January 1, 2018, repealed the ability to recharacterize, or undo, a Roth conversion (Source: IRS, Tax Cuts and Jobs Act page). This removed a prior option to reverse a conversion after a market decline.

How many US households own a Roth IRA?

In mid-2025, 37.5 million US households, or 27.8 percent, owned Roth IRAs (Source: ICI Research Perspective Vol. 32 No. 7, June 2026). The Federal Reserve’s SCF reported 16.1 percent in 2022 using a different methodology (Source: SCF 2022 via CRS R48456).

Why do the SCF and ICI ownership numbers differ?

The SCF excludes employer-sponsored IRAs and uses the primary economic unit household definition, while ICI uses its shareholder-tracking survey. The gap is a measurement difference, not a real change (Source: SCF 2022 via CRS R48456; ICI RP Vol. 32 No. 7).

Which age group is most likely to own a Roth IRA?

In the SCF 2022 data, ownership peaks at 20.2 percent among households headed by a 35 to 44 year old and declines with age (Source: SCF 2022 via CRS R48456). ICI’s mid-2025 data shows Roth ownership is relatively level across age.

How do Roth and traditional IRA ownership compare by age?

Traditional IRA ownership rises steeply with age, reaching 48 percent among households 65 or older in mid-2025, while Roth ownership stays near 24 to 30 percent across bands. Among households under 45, Roth ownership exceeds traditional (Source: ICI RP Vol. 32 No. 7, June 2026).

How large are total Roth IRA assets?

The IRS reported Roth IRA year-end fair market value of $354.9 billion in 2010 (Source: IRS SOI Bulletin Fall 2013). ICI figures compiled by CRS estimate roughly $1,405 billion in 2023, about 10.4 percent of all IRA assets (Source: CRS R48456, 2025).

How large is the total IRA market?

Total IRA assets reached $19.2 trillion at year-end 2025, or 39 percent of the $49.1 trillion US retirement market, then retreated to $18.2 trillion at the end of the first quarter of 2026 (Source: ICI Quarterly Retirement Market Data, Q4 2025 and Q1 2026).

What is the Roth Conversion Intensity Index?

It is a Q3 Advisors reference metric expressing conversion dollars as a multiple of a source family’s own pre-lift baseline, computed within a single source only. On the IRS family, 2010 reads 9.53x versus the 2009 baseline, reproducing the “over 800 percent” narrative (Source: computed from IRS SOI Bulletin Fall 2013).

What share of Fidelity IRA contributions go to Roth accounts?

Fidelity reports that in the first quarter of 2026, 67 percent of all IRA contributions at Fidelity went into Roth IRAs, and Roth conversion transactions were up 41 percent year over year (Source: Fidelity Q1 2026 Retirement Analysis, via 401kSpecialist). This is single-firm data, not market-wide.

Is a Roth conversion right for me?

This report is educational and does not make recommendations. Whether a conversion fits an individual situation depends on facts specific to that person, including how added income interacts with items such as the widow’s penalty and Medicare costs. A qualified adviser can review your circumstances.

Sources

IRS Statistics of Income, Bryant and Gober, “Accumulation and Distribution of Individual Retirement Arrangements, 2010,” SOI Bulletin Fall 2013, Table 1 and Figure B, https://www.irs.gov/pub/irs-soi/13inirafallbul.pdf .
IRS SOI, “Accumulation and Distribution of Individual Retirement Arrangements” landing page, https://www.irs.gov/statistics/soi-tax-stats-accumulation-and-distribution-of-individual-retirement-arrangements .
Congressional Research Service Report R48456, “Traditional, Roth, and Rollover Individual Retirement Account (IRA) Ownership in 2022,” Figures 3 and Tables 1 and 3 (SCF 2022 analysis), https://www.everycrsreport.com/reports/R48456.html .
Congressional Research Service Report RL34397, “Traditional and Roth Individual Retirement Accounts (IRAs): A Primer,” https://www.everycrsreport.com/reports/RL34397.html .
Investment Company Institute, “The IRA Investor Profile: Roth IRA Investors’ Activity, 2010-2020” (July 2024), https://www.ici.org/system/files/2024-07/24-rpt-ira-roth.pdf .
Investment Company Institute Research Perspective Vol. 32, No. 7 (June 2026), “The Role of IRAs in US Households’ Saving for Retirement, 2025,” https://www.ici.org/system/files/2026-06/per32-07.pdf .
Investment Company Institute Quarterly Retirement Market Data, Q4 2025 and Q1 2026, https://www.ici.org/statistical-report/ret_25_q4 and https://www.ici.org/statistical-report/ret_26_q1 .
IRS, Tax Cuts and Jobs Act page, https://www.irs.gov/tax-cuts-and-jobs-act .
Fidelity Q1 2026 Retirement Analysis and Cerulli Associates estimates, via 401kSpecialist, https://401kspecialistmag.com/rollovers-drive-ira-growth-to-19-2-trillion-ici-finds/ .

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