Plan

• Open a solo Roth 401(k) (I’m self-employed) and contribute roughly $50,000 during the first year
• Wait some amount of time, if necessary?
• Rollover the Roth 401(k) into my existing Roth IRA

Reasoning

Roth IRA early withdrawals always pull from contributions first (tax and penalty free), whereas Roth 401(k) early withdrawals are a prorated mix of contributions and earnings, so I would rather have all my contributions in a Roth IRA just in case I was ever inclined to withdraw them*. Since it would take a long time to build up $50,000 in contributions by contributing a maximum of $6,000 per year to my Roth IRA, I came up with this plan to potentially get around that.

*: I know it’s not wise to take early withdrawals from retirement accounts, but the ability to withdraw all contributions at any time, for any reason, without penalties, gives me peace of mind.

Questions

1. Is this even possible? (that is, doing a rollover on a solo Roth 401(k), since it sounds like rollovers are usually done after you no longer work for the employer where you had your 401(k))

2. How long would I need to wait before rolling over my solo Roth 401(k) into my existing Roth IRA?

3. Since the rollover is taking place between two Roth accounts, although the source is a 401(k) and destination is an IRA, would I owe any taxes?

4. I’ve heard that after the rollover there could be a five-year waiting period before the contributions originally from the Roth 401(k) could be withdrawn from the Roth IRA penalty-free. Is that true, or did I misinterpret something?

5. Is there any other "gotchas" or anything else I should be concerned about with this process?

Resources I’ve Read So Far

What Are the Roth 401(k) Withdrawal Rules?
(https://www.investopedia.com/ask/answers/101314/what-are-roth-401k-withdrawal-rules.asp)

Understanding Non-Qualified Roth IRA Distributions
(https://www.investopedia.com/understanding-non-qualified-roth-ira-distributions-4770842)

ROTH 401K WITHDRAWALS
(https://fitaxguy.com/roth-401k-withdrawals/)