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Mutual Funds and Mutual Fund Investing - Fidelity Investments

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Retirement & IRAs Overview

Traditional IRA

With a traditional IRA, you make contributions with money you may be able to deduct on your tax return. Any earnings potentially grow tax-deferred until you withdraw them in retirement.

Get started now

Open an IRA

Traditional vs. Roth IRAs – see what's different

IRA tax advantages

Contributions

Tax-deductible contributions¹

Earnings

Any earnings grow federal income tax-deferred.

Withdrawals

10% early withdrawal penalty may apply for other withdrawals taken prior to age 59½ if no exceptions apply.

Penalty-free withdrawals for first home purchase and certain college expenses

Required minimum distributions (RMDs) starting at age 70½

IRA account features

Eligibility²	Individuals less than 70½ years of age Must have employment compensation
Maximum contribution	2018: $5,500 ($6,500 if age 50 or older) 2019: $6,000 ($7,000 if age 50 or older)
Minimum investment	There is no minimum to open the account Certain investments, like mutual funds, require a minimum initial investment
Investment options	Access to a wide range of investments offering growth or income including mutual funds, stocks, bonds, ETFs, and FDIC-insured CDs
Support and guidance	Research and tools to help you create a long-term plan and choose investments

IRA fees

Account fees	There are no opening, closing or annual fees for Fidelity's traditional, Roth, SEP, SIMPLE and rollover IRA's. *
Trading fees³	$0 commission for online US stock, ETF, and option trades

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https://social.retail.fidelity.com/reviews/cloudSEOService?pid=005&request-url=/retirement-ira/traditional-ira

Questions?

Investing involves risk, including risk of loss.

*

There are no opening, closing or annual fees for Fidelity's Traditional, Roth, SEP, SIMPLE, and rollover IRAs. Fund investments held in your account may be subject to management and short-term trading fees, as described in the offering materials. For all securities, see the Fidelity commission schedule (PDF) for trading commission and transaction fee details.

1.

For a Traditional IRA, for 2019 full deductibility of a contribution is available to active participants whose 2019 Modified Adjusted Gross Income (MAGI) is $103,000 or less (joint) and $64,000 or less (single); partial deductibility for MAGI up to $123,000 (joint) and $74,000 (single). In addition, full deductibility of a contribution is available for working or nonworking spouses of plan participants who are not themselves covered by an employer-sponsored plan whose MAGI is less than $193,000; and partial deductibility for MAGI up to $203,000. For 2020 full deductibility of a contribution is available to active participants whose 2020 Modified Adjusted Gross Income (MAGI) is $104,000 or less (joint) and $65,000 or less (single); partial deductibility for MAGI up to $124,000 (joint) and $75,000 (single). In addition, full deductibility of a contribution is available for working or nonworking spouses of plan participants who are not themselves covered by an employer-sponsored plan whose MAGI is less than $196,000; and partial deductibility for MAGI up to $206,000. If neither you nor your spouse (if any) is a participant in a workplace plan, then your Traditional IRA contribution is always tax deductible, regardless of your income.

2. You must be at least 18 to open an IRA at Fidelity.

3.

$0.00 commission applies to online U.S. equity trades, exchange-traded funds (ETFs), and options (+ $0.65 per contract fee) in a Fidelity retail account only for Fidelity Brokerage Services LLC retail clients. Sell orders are subject to an activity assessment fee (from $0.01 to $0.03 per $1,000 of principal). There is an Options Regulatory Fee (from $0.03 to $0.05 per contract), which applies to both option buy and sell transactions. The fee is subject to change. Other exclusions and conditions may apply. See Fidelity.com/commissions for details. Employee equity compensation transactions and accounts managed by advisors or intermediaries through Fidelity Clearing & Custody Solutions^® are subject to different commission schedules.

The initial customer ratings and reviews for this product (those dated before 3/16/2012) were provided to Fidelity through an email solicitation for feedback on the product. All ratings and reviews are provided to Fidelity on a voluntary basis and are screened in accordance with the guidelines set forth in our Customer Ratings and Reviews Terms of Use. For additional information on which ratings and reviews may be posted, please refer to our . Featured reviews have been selected based on subjective criteria and reviewed by Fidelity Investments. The average rating is determined by calculating the mathematical average of all ratings that are approved for posting per the Customer Ratings and Reviews Terms of use and does not include any ratings that did not meet the guidelines and were therefore not posted. Ratings and reviews are added continuously to the website (after a delay for screening against guidelines) and average ratings are updated dynamically as reviews are added or removed.

The ratings and experiences of customers may not be representative of the experiences of all customers or investors and is not indicative of future success. The accuracy of information included in the customer ratings and reviews cannot be guaranteed by Fidelity Investments. Customers who post ratings may be responsible for disclosing whether they have a financial interest or conflict in submitting a rating and review.

Please contact a Fidelity representative if you have additional questions or concerns about the ratings and reviews posted here.

Fidelity Brokerage Services LLC, Member NYSE, SIPC, 900 Salem Street, Smithfield, RI 02917

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