What is a Roth IRA?

A Roth IRA is an IRA that, except as explained below, is subject to the rules that apply to a traditional IRA.

A Roth IRA is an IRA that, except as explained below, is subject to the rules that apply to a traditional IRA.

  • You cannot deduct contributions to a Roth IRA.
  • If you satisfy the requirements, qualified distributions are tax-free.
  • You can make contributions to your Roth IRA after you reach age 70 ½.
  • You can leave amounts in your Roth IRA as long as you live.
  • The account or annuity must be designated as a Roth IRA when it is set up.