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First, let's define a backdoor Roth conversion for those who might not know: a backdoor Roth conversion is a strategy used by taxpayers who earn too much to contribute directly to a Roth IRA. They do this by contributing to a traditional IRA (non-deductible), then converting those funds to a Roth IRA. Now, if you've waited multiple years to convert the non-deductible contributions in your traditional IRA to a Roth IRA, a few things can happen: 1. Taxes: You may end up owing taxes upon conversion if you have tax-deferred amounts in your traditional IRA. This would include deductible contributions or any earnings on the non-deductible contributions in the traditional IRA. Taxes owed would apply to the taxable portion of the conversion, as the Roth conversion triggers a taxable event for those amounts. The non-deductible contributions themselves won't be taxed. 2. Pro-rata rule: When converting the funds, the IRS will apply the pro-rata rule to calculate the taxable portion. It means you can't simply convert only non-deductible contributions. Instead, the IRS considers all of your non-Roth IRAs (including traditional IRAs, SEP IRAs, and SIMPLE IRAs) when determining the taxable portion of any conversion. 3. Waiting longer may lead to more taxes due to gains: If your non-deductible contributions have grown over time while sitting in your traditional IRA, you may end up paying more in taxes upon conversion due to the earnings on those contributions. To avoid potential complications, it's usually a good idea to complete the backdoor Roth conversion as soon as possible after making non-deductible contributions to a traditional IRA. However, each situation is unique, and it's important to consider your own financial situation and potential tax consequences before making any decisions.