Investing involves risk, including risk of loss.
Fidelity does not provide legal or tax advice. The information herein is general and educational in nature and should not be considered legal or tax advice. Tax laws and regulations are complex and subject to change, which can materially impact investment results. Fidelity cannot guarantee that the information herein is accurate, complete, or timely. Fidelity makes no warranties with regard to such information or results obtained by its use, and disclaims any liability arising out of your use of, or any tax position taken in reliance on, such information. Consult an attorney or tax professional regarding your specific situation.
1. A distribution from a Roth IRA is tax free and penalty free, provided the five-year aging requirement has been satisfied and one of the following conditions is met: age 59½, disability, qualified first-time home purchase, or death.
2. You must be 18 to open an IRA with Fidelity. A custodian can open a Roth IRA for a minor under age 18.
3. For 2021, if you're single, the ability to contribute to a Roth begins to phase out at MAGI of $125,000 and is completely phased out at $140,000. If you're married filing jointly, the phaseout range is $198,000 to $208,000 for 2021.
4. The 5-year aging begins January 1 of the year of the first contribution.
5. Based on unreimbursed medical expenses that are more than 7.5% of your adjusted gross income for the year.
6. Additionally, periodic payments, medical expenses in excess of 7.5 AGI, unemployed purchase of health insurance, and IRA levy are additional distributions that are penalty free.
7. Zero account fees and minimums are available for retail brokerage accounts only. Expenses charged by investments (e.g., funds and managed accounts, and certain HSAs), commissions, interest charges, or other expenses for transactions may still apply. All Fidelity funds that previously required investment minimums of $10,000 or less, and for stock and bond index fund classes that previously had minimums of $100 million or less, now have zero minimums. See the fund’s prospectus and Fidelity.com/commissions for further details.
Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.
All Fidelity funds that previously required investment minimums of $10k or less, and stock and bond index fund classes that previously had minimums of $100 million or less, now have zero minimums.
Fidelity Brokerage Services LLC, Member NYSE, SIPC, 900 Salem Street, Smithfield, RI 02917