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.

Reasons to consider a Traditional IRA

  • Earnings grow federal income tax-deferred
  • Penalty-free withdrawals for first home purchase and certain college expenses
  • Tools, ideas, and strategies to help you prepare for your retirement

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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

Minimum required distributions (MRDs) starting at age 70½

Eligibility2

Individuals less than 70½ years of age

Must have employment compensation

Maximum contribution

2016 and 2017: $5,500 ($6,500 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

One-on-one guidance—in person, online, or over the phone

Research and tools to help you create a long-term plan and choose investments

Account opening and annual maintenance fees

None*


*There is no cost to open and no annual fee for Fidelity's Traditional, Roth, SEP, and Rollover IRAs. A $50 account close out fee may apply. Fund investments held in your account may be subject to management, low balance 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.

Trading fees3

$7.95 for online U.S. equity trades

More information

Learn about IRAs
Get the basics, from choosing investments to taking minimum required distributions (MRDs).

Roth vs. Traditional IRA Evaluator
Answer a few questions to find out which type of IRA is right for you.

IRA Checklist
Follow these three steps to open a new IRA or transfer an IRA from another provider to Fidelity.

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Rated 4.3 out of 5 by 592 reviewers.
Rated 5 out of 5 by reliable, easy,comfortable. Overall experience was very good, easy and felt comfortable. September 15, 2016
Rated 5 out of 5 by Very convenient Fidelity provides a great handle to manage IRA account. I love it. September 13, 2016
Rated 5 out of 5 by secure and reliable financial advisors are very helpful and courteous and professional. September 6, 2016
Rated 3 out of 5 by Roth I am still unclear about my ability to do backdoor Roth IRA conversions of a traditional IRA. Not clear to me what the tax issues are. Need help but didn't get it from the folks I talked to last year. September 6, 2016
Rated 5 out of 5 by confident The staff and phone support have been amazing. Fidelity has exceeded my expectations. September 6, 2016
Rated 5 out of 5 by Steady Easy webpage to follow and quick response to your investments. September 6, 2016
Rated 3 out of 5 by My IRA account I was and I still am very displeased with the communication and customer service aspects of my account. Very poor communication and assistance from the very start. September 6, 2016
Rated 4 out of 5 by reliable and secure Only with this account have I had any dealings with someone at Fidelity who answered all my questions patiently and with great compassion. My husband has just passed and I know nothing about handling his accounts. The lady I spoke to was knowledgeable and knew what I was asking was because I have to learn what to do in regard to my money. September 6, 2016
Rated 5 out of 5 by I like the effectiveness Every time I call Fidelity, I know I will get my issue taken care of the first time. August 31, 2016
Rated 5 out of 5 by Student Ana G I am very confortable with my account. Every time that I need immediate attention I have a some body with experience that bring me immediate attention and give personal information of product and service I am looking for. August 30, 2016
Rated 5 out of 5 by Great Service Fidelity is a far better company to invest with. I have tried other companies and I like the customer service Fidelity has. August 30, 2016
Rated 4 out of 5 by Secure and reliable. A comprehensive service I am happy with the value and convenience. I would recommend the service to my friends August 30, 2016
Rated 5 out of 5 by Another stellar product Have other accounts with Fidelity and am also very pleased with convenience, value, and customer service associated with this final product (IRA) August 22, 2016
Rated 4 out of 5 by Cust svc No assistance after the acct was set up or was any advice offered on what to do next. August 16, 2016
Rated 5 out of 5 by secure and reliable very friendly and knowledgeable-always available, return calls promptly August 16, 2016
Rated 4 out of 5 by Dependable, has my confidence. The only need for improvement: The MRD Estimate has been 0 from the inception of the account, and should be revised to indicate the true MRD. August 16, 2016
Rated 5 out of 5 by excellent customer service I love working with everyone at Fidelity. Monte is my favor person there. August 15, 2016
Rated 5 out of 5 by Growth Fidelity is great to work with because there are many options to suit your financial goals August 4, 2016
Rated 5 out of 5 by more flexibility It has only been a few months since I opened the IRA account and transferred my funds to Fidelity. Fidelity offers many more investment options than my previous financial institution - a bank where I was limited to CDs that now pay very low interest rates. July 26, 2016
Rated 5 out of 5 by Great customer service I'm very pleased with the help I received setting up my account. The woman I spoke with was very helpful and patient. July 25, 2016
Rated 5 out of 5 by Met with our Fidelity Rep. Our Fidelity Rep. offered good sound advise. He spoke clearly and in language that we could understand. Very kind, courteous and professional. July 25, 2016
Rated 5 out of 5 by I'm happy The website gives me the information I need with easy access. July 11, 2016
Rated 5 out of 5 by Great Company I've had my Fidelity account for years. They are consistently improving their services and I have yet to be disappointed. Customer service has always been very polite and they do actually follow up with you if you have any issues. July 11, 2016
Rated 5 out of 5 by Evaluation Wonderful experience. Professional treatment. Thanks! July 11, 2016
Rated 4 out of 5 by secure so far so good. I should have switched to Fideltiy July 6, 2016
Rated 4 out of 5 by REVIEW I like the Fidelity trader pro, although I think it could improve in some areas. Daily dashboard should provide GOLD and OIL prices as well as the indecies. certain details and research are not reflected in the mobile version and rewverse. It would be nice to have all the same info on both mobile and desk top. June 20, 2016
Rated 4 out of 5 by simple It's nice and clean and simple and inexpensive, which I appreciate. The bit of frustration is that since my wife and I are on assignment in London, it's not possible for us to link these new IRAs to each other's accounts (medallion signatures are very US-centric). So even though the rest of our accounts are linked, when we sign in we know we're missing the whole picture. We have a dozen Fidelity accounts--why we need to go through this torturous process every time we open a new account? June 13, 2016
Rated 2 out of 5 by NEW WEBSITE It needs a lot of IMPROVEMENTS which I have given FEEDBACK on several times in the past year, namely: (1) The LEFT COLUMN of ACCUNTS MOVES UP & DOWN when we scroll on MUTUAL FUND NAMES in POSITIONS PAGE. The LEFT COLUMN of ACCOUNT NAMES should be DECOUPLED. I have 47 accounts to manage, and this becomes a NUISSANCE. (2) on POSITIONS PAGE, the column of SYMBOLS should also allow us to SORT by NAMES of MUTUAL FUNDS (the previous version used to allow the same). (3) On POSITIONS PAGE, we should be able to SORT by 52-WEEK HIGH/LOW. This facilitates our TRADING DECISIONS. (4) On POSITIONS PAGE under customize if we select "EXPAND SECURITY NAME, it should retain that as a DEFAULT, unless we remove the default. Because of these many HANDICAPS, I would NOT recommend any fidelity accounts (BROKERAGE and/or RETIREMENT. June 8, 2016
Rated 3 out of 5 by retirement just a place to put my retirement money, nothing attractive June 8, 2016
Rated 4 out of 5 by convenient I like the online easiness of being able to access my account. June 8, 2016
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