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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.

No account fees or minimums to open an account¹
Earnings grow federal income tax-deferred
Help choosing from a wide range of investment options
Commission-free trades²

Open an IRA

Traditional vs. Roth IRAs – see what's different

IRA tax advantages

Contributions	Tax-deductible contributions³
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, birth, adoption and certain college expenses. Required minimum distributions (RMDs) starting at age 72*

Contributions

Tax-deductible contributions³

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, birth, adoption and certain college expenses.

Required minimum distributions (RMDs) starting at age 72*

IRA account features

Eligibility⁴	Starting in 2020, as long as you are still working, there is no age limit to be able to contribute to a Traditional IRA. The Secure Act, signed into law on December 20, 2019, removed the age limit in which an individual can contribute to an IRA. The top age prior to the law was 70½.
Maximum contribution	2020: $6,000 ($7,000 if age 50 or older) 2021: $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.¹
Trading fees²	$0 commission for online US stock, ETF, and option trades