As of January 2022, the future of backdoor Roth IRA is still in question, as Congress is still hashing out the final details of the Build Back Better Framework. In the meantime, it is still possible to fund your backdoor Roth IRA. Here are the steps to do it on Fidelity.
Fund a Traditional IRA
The first step is to fund a non-deductible Traditional IRA. I have kept my Traditional IRA open with zero funds throughout the years in order to save this step for future contributions to my Roth IRA. The contribution limit for 2022 is $6000 for those under 50 years old and $7000 for those over. After funds clear in the account, you still have to wait roughly 1 day before making a Roth IRA conversion.
Convert funds to a Roth IRA
If this year is the first time that you’ve ever contributed to a Roth IRA, you will need to open a new account. Otherwise, you can convert your non-deductible Traditional IRA funds over. Head over to the Fidelity online conversion page.

Click on Step 3: Convert your IRA online. The next screen will have some drop-down items to pick which IRA you are moving funds to.

Notice that my Traditional IRA has an extra penny. This happens when you end up waiting more than a week to transfer funds, because sometimes interest actually accrues on the account. Ultimately, this doesn’t make a difference when you file your taxes. The next screen will then ask you how much you would want to transfer:

Choose to “Transfer all of my account” in order to keep your Traditional IRA basis to zero. You can opt to leave your Traditional IRA account open or close it. I’ve kept mine open for years for simplicity. If I can no longer contribute to a backdoor Roth IRA in the future, I’ll decide to close the account then.
Afterward, you’ll get a confirmation screen with the amount that you are converting, and then another screen asking about tax withholding. Since you initially contributed to a non-deductible Traditional IRA your funds are post-tax. There is no need to ask Fidelity to withhold any taxes.

Afterward, you’re done!

Thanks for this article. In step 1, how do you indicate to Fidelity that the $6,000 contribution is non-deductible? Is it accurate that the traditional IRA contribution is identical to a deductible one, and the only distinction is when filing 2022 taxes in 2023? Thanks!
Hi Cris,
Yes, you are correct that the there is no distinction between deductible and non-deductible traditional IRA when funding. When you file your 2022 taxes in 2023 you specify that you contributed to a non-deductible IRA. This is an overview of how to file: https://smartmoneymd.com/how-to-file-your-backdoor-roth-ira-through-hrblock-online-edition/
Thanks for stopping by!
Thanks for the article. I was confused when they simplified the process. It’s so much easier and less confusing now.
Glad that this was helpful!
Thanks for stopping by!
This was so helpful. I have been worried about this for weeks and now I see it’s a cinch.
Happy to help! Good luck!