Roth IRA

The opportunity to grow your retirement savings―and withdraw money when needed.1 That's the power and flexibility a Roth IRA can provide.

What is a Roth IRA?

A Roth IRA is an individual retirement account (IRA) funded with after-tax dollars. At any time for any reason, you can withdraw your contributions tax-free and penalty-free. Additionally, any earnings on investments can also be withdrawn tax-free and penalty-free, provided certain requirements are met.1

Step 1: See if a Roth IRA is right for you

Tax savings

Want to keep more of what you earn? Any potential Roth IRA earnings grow tax-free, with tax-free withdrawals in retirement.1

Flexible access to your money

Need money in a pinch? Your Roth contributions can be withdrawn without taxes or penalties, at any time, for any reason.

Easy to qualify

As long as you have earned income (up to limits set by the IRS), you can contribute to a Roth IRA. Not sure how much to contribute? Use our Contribution Calculator.

Not sure which IRA is right for you?

Check out our Roth vs. traditional IRA comparison.

Step 2: Choose who you want investing your Roth IRA—You or Fidelity?

Fidelity Roth IRA

Investment management

You choose and manage your investments

Planning & guidance

Access to robust planning tools, and support from a Fidelity representative as needed2


No minimum to open an account3


No account3 or advisory fees with this type of retail account

Depending on which investments you choose, there may be underlying fees


Thought leadership, research, 24/7 customer service

Fidelity Go® Roth IRA

Investment management

We choose and manage your investments using your goals and risk tolerance in this digital account

Planning & guidance

Access to digital planning tools and unlimited 1-on-1 coaching calls with a dedicated team of Fidelity advisors once your account balance reaches $25,0002


No minimum to open an account4

Advisory fees4

$0 for under $25,000 and 0.35%/yr for $25,000 and above

Invests in Fidelity mutual funds that do not charge management fees or, with limited exceptions, fund expenses


Thought leadership, research, 24/7 customer service

Looking for a more hands-on managed approach?

You might want to consider Fidelity® Wealth Services for your planning and investment management needs. Minimum investment is $50,000 for access to a team of advisors or $500,000 for a dedicated advisor.

Already opened your Roth? There are two quick tips.

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First contribute

Remember, you can withdraw whatever you contribute without taxes or penalties, so no reason to put it off.

Make a contributionLog In Required

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Second invest

To take advantage of tax-free growth, you'll need to pick investments. If you chose a Fidelity Go® Roth IRA, don't worry—we're investing for you. Didn't choose a Fidelity Go® Roth IRA? Don't let your contributions sit as cash, explore investment options.


  • If I qualify to contribute to both a traditional IRA and a Roth IRA, are there tax implications I should consider?
    Having a mix of both pre-tax and Roth contributions can help create additional flexibility in retirement to respond to a great unknown—future tax rates. For people who expect income in retirement to be as high or higher than their current level, others who expect their tax rate in retirement to be higher than today, or younger people who expect steady income growth over their careers, Roth IRA contributions may be the better choice. But if you believe that your tax rates will be lower in retirement than they are now, you may want to prioritize pretax vehicles like the traditional IRA. Our IRA Contribution Calculator allows you to answer a few questions and find out which one might be right for you.
  • Should I own a Roth IRA?
    Generally speaking, most investors should consider having a Roth IRA as part of their overall retirement plan because it offers federal tax-free growth potential and withdrawals, which have the potential to help minimize taxes and maximize retirement savings. Contributing to a Roth IRA involves income requirements.
  • How is a Roth IRA different from a traditional IRA?

    With a Roth IRA, you contribute money that's already been taxed (that is, "after-tax" dollars). Any earnings in a Roth IRA have the potential to grow tax-free as long as they stay in the account. Withdrawals of earnings from Roth IRAs are federal income tax-free and penalty-free if a 5-year aging period has been met and the account owner is age 59½ or over, disabled, or deceased. Roth IRAs are not subject to required minimum distribution (RMD) rules during the lifetime of the original owner, so you can leave your assets in the Roth IRA where they have the potential to continue to grow. 

    With a traditional IRA, contributions can be made on an after-tax basis or a pre-tax (tax-deductible) basis if certain requirements are met. Any earnings in the traditional IRA are tax-deferred as long as they remain in the account. Withdrawals of pre-tax monies are subject to ordinary income tax when withdrawn. RMDs are required from traditional IRAs no later than April 1 of the year following the year in which you turn age 73.5 If you wait until April 1, you will then be required to take your second distribution by the end of that year. 

    For both types of IRAs, distributions before age 59½ may be subject to both ordinary income taxes and a 10% early withdrawal penalty. For a detailed comparison, view the traditional vs. Roth comparison table.

    Note that with a Roth IRA, you're able to withdraw contributions you've made at any time, for any reason, with no taxes or penalty.

  • What tax form will I receive for my Roth IRA contributions?

    If you contributed or rolled money to a Roth IRA, you will receive Form 5498 from Fidelity in January. Form 5498 summarizes your IRA contributions, rollovers, holdings, and fair market value. If you make a prior year contribution between January and the tax filing deadline, you will receive a revised 5498 in May. This form is informational only and does not need to be filed with your taxes. For help with this tax form, see the IRS Instructions for Form 5498 (PDF).

  • What tax form will I receive for my IRA withdrawals?

    If you made withdrawals (of $10 or greater) from an IRA, you will receive Form 1099-R from Fidelity in January. For more details on Form 1099-R and reporting the withdrawals on your return, see the IRS Instructions for Form 1099-R (PDF).

Additional resources

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Roth IRA for Kids

Your child can start saving for retirement as soon as they have a job. Invest with tax-deferred growth and potential tax-free withdrawals.
Learn more

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