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

Get started now


Tax-deductible contributions1


Any earnings grow federal income tax-deferred.


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


Individuals less than 70½ years of age

Must have employment compensation

Maximum contribution

2015 and 2016: $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


*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.

Rated 4.3 out of 5 by 568 reviewers.
Rated 4 out of 5 by Good IRA's with Moderate Fees Fidelity offers a wide variety of IRA choices with excellent customer support. Fees are moderate. March 28, 2016
Rated 5 out of 5 by Providing Everthing Necessary For Our Investment Needs After searching for many years to find investment professionals that we could trust, we struck gold with Fidelity. They offer all forms of investments at fair prices. With patient & expert guidance to help explain our options and point us in the right direction Along with a fabulous easy to navigate website with all the information we need right at our fingertips. We now feel very secure knowing that our investments are in the right place as we near retirement. March 21, 2016
Rated 4 out of 5 by easy access I like the fact that your customer service is extremely friendly and helpful, along with being able to make transactions on line. March 14, 2016
Rated 2 out of 5 by No value-add Gary was not as helpful as I had wanted - he seemed rushed and not allowing me to explain my situation - he skipped around and did not provide step by step guidance I was seeking. I am still confused on the EFT process to deposit into my ROTH IRA and if there are any restrictions for my contributions since I am a HCE in my employer 401k plan. March 8, 2016
Rated 5 out of 5 by Traditional IRA Fidelity® Traditional IRA I have had my account for over a year. And love all the tools for doing your own research. Making a portfolio of your own likes and dislikes. You can be in total control of your investments, which I prefer. Or you can get a Fidelity agent to work with you advising. Any questions you may have about a online trade you have made and have a question help is just a chat online or a phone call away. Very pleased with them. And your own online trades are just $7.95 per transaction. And print out all documents for your own record file February 24, 2016
Rated 5 out of 5 by Easy to manage My experience has been that Fidelity IRA's, both Traditional and Roth accounts, are easy to manage via the internet. I have recently started receiving monthly distributions, via direct deposit to my bank account, to satisfy Required Minimum Distributions from my Traditional IRA. February 21, 2016
Rated 4 out of 5 by Great Research Tools I very rarely utilize Customer Service. Not quite sure what Fidelity's Customer Service provides! February 15, 2016
Rated 4 out of 5 by Monthly Statement The Monthly Statements are very long, repetitive and a waste of paper -- 11 pages for a single account. The useful needed information should fit on 2 pages. Despite the lengthy format, one piece of information is missing. I would like to see the previous month's value of each entry so I can see which one increased and which one went down and how much. February 11, 2016
Rated 4 out of 5 by OK Nothing to brag about, nothing worse than many others. February 8, 2016
Rated 1 out of 5 by Worst Customer Service / Funding Process Opened a new IRA with Fidelity and the funding process is horrible. You can either verify your account via mail or go to one of their investment centers. Was told by rep on the phone investment center is fastest way to do it. Drove 40 miles round trip only to find out that it still takes 3 business days to even process the form, and now being told 7 - 10 business days to verify the account is mine plus an additional 4 business days for the money to be available. Little more than 3 weeks from open to my money working for me. Have been told by multiple reps different time frames and each has a different excuse for why it takes so long. Last one blaming the weekend. Opened another IRA with a different company and from open to funded in 3 days. February 1, 2016
Rated 2 out of 5 by More needless problems executing simple transactions Simple transactions (e.g., sending wires to existing savings or checking accounts, which are already used for funding or receiving funds) is needlessly complex and requires extra needless steps. The workers are always courteous and want to be helpful. I find other major funds are more reasonable. February 1, 2016
Rated 5 out of 5 by (Don't understand this request) Excellent choice of investments, and quick execution of trades. Love the moment by moment price updates. My only concern is navigating the client website once I'm on it. There are too many extraneous choices, and it's difficult to discover how to reach someone I can briefly speak with. I'm a $500,000+ "premium" account, and I couldn't even find the special telephone number allotted for these. All in all, a great firm though. January 31, 2016
Rated 3 out of 5 by Stable but could improve Would like better listing of nonFidelity mutual funds which would be available for IRA. Also, would like to see expenses for funds reduced to level given to established corporate 401k plans. Disappointed that the new account reports do not show month over changes in fund values. Like having a local account representative to speak to intermittently. January 17, 2016
Rated 4 out of 5 by fidelity reveiw I find he IRA and other Fidelity accounts convenient and easy to use. I do not like the informational notes that arrive as emails and do not link to the specific pertinent information. they merely link to the same generic comment as is in the email and I have to go searching for the important message. January 4, 2016
Rated 5 out of 5 by Secure and Reliable I find Fidelity to be a wise and safe way to invest one's IRA. I also appreciate the frequent updates via email. December 28, 2015
Rated 5 out of 5 by accounts online is excellent. Telephone service is hard to get past robot answering. December 17, 2015
Rated 5 out of 5 by laboratory scientist friendly, knowledgeable representatives that are secure and reliable. December 7, 2015
Rated 3 out of 5 by Secure and Informative Happy with IRA . Customer service was very helpful in my set-up. I fine with my numbers so far and the information that is made available to me. November 30, 2015
Rated 5 out of 5 by Well managed during difficult times I am very pleased with the advice and guidance I have received from Fidelity. November 22, 2015
Rated 5 out of 5 by Well Satisfied I received outstanding financial advice on how to manage my retirement money. I wanted something conservative, and I ended up with the perfect solution -- after reviewing options with the fixed income team.. November 15, 2015
Rated 5 out of 5 by my regular ira with fidelity it meets my current needs. Only negative is that with the current transfer into Fidelity this calendar year, even though I input the MRD, the system won't catch it and track it. November 4, 2015
Rated 5 out of 5 by Great company I have found Fidelity to be very honest and helpful. They have been very good at getting me better prices then expected. November 3, 2015
Rated 5 out of 5 by Easy to navigate I find the ability to drill down and see the value, gain/loss and cost in an easy to read format very helpful November 1, 2015
Rated 3 out of 5 by Good and bad The computer software to monitor the account is great. The lack of personal follow-up concerning advise is poor to nonexistent. The Fidelity professionals should contact the account holder at least once a quarter. Offering on line investment topics to listen to is not a substitute for individual service. October 26, 2015
Rated 1 out of 5 by Cannot set up EFT on-line despite hours phone reps unhelpful and just transferred me around. October 19, 2015
Rated 5 out of 5 by Great choice of investment. Trustworthy I have always viewed Fidelity as trustworthy. Their IRA has only helped sure me about their commitment. I love the vast range of choices for investments. October 19, 2015
Rated 3 out of 5 by Need more information about fund choices Wish I could talk to a rep at Fidelity about better choices regarding retirement funds for a late 50's investor. October 4, 2015
Rated 5 out of 5 by Secure and Easy It is so easy working with Fidelity. I trust them and find their web site easy to navigate. October 1, 2015
Rated 4 out of 5 by Good offerings, reasonable costs, excellent customer service I have been happy overall with Fidelity's Traditional IRA. The offering are good with reasonable costs, and with excellent customer service. September 30, 2015
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