The active chemical/acid in a "rust converter" varies by brand. I checked several "rust converters" and a few had phosporic acid.

Look for the MSDS for the specific product in question.

Here are some active ingredients in a few "rust converters":

Four products had these active ingredients:
Tannic acid
2-BUTOXY ETHANOL (2-Butoxyethanol)

One British product had these ingredients:
METHOXY 2-PROPANOL
GALLIC ACID
BUTYL GLYCOL

Tannic Acid
Oxalic Acid
Ethylene Glycol 2-(2-Ethoxyethox)
ethanol

TANNIC ACID
METHYL CARBITOL
AMPHOROUS FUMED SILICA
2,2,4-TRIMETHYL-1, 3-PENTANEDIOL MONOISOBUTYRA TE
ALKYLDIPHENYLOXIDE DISULFONATE SOLUTION

Septone Rust Converter had:
Phosphoric acid

Esgard, Inc
Phosphoric Acid (CAS# 7664-38-2)
Nitric Acid (CAS# 7697-37-2)
Butyl Cellosolve (CAS# 111-76-2)