Originally Posted by signupdamnit

I'm skeptical that this is required if you are converting it say every 30 days. It's reminds me of a story I heard from a friend many years ago. He used to let his minor son help out with his business from time to time. Not wanting to do things incorrectly he went to great measures to keep track of his son's hours, earnings and to keep on top of all the regulations to the point where every little thing was documented. To his surprise he received a letter from the IRS basically telling him "don't waste our time and we won't waste yours".