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Roth IRA - Frequently Asked Questions

Click on any question below to veiw answers to some common questions about Roth IRA accounts.

What makes the Roth IRA different from the Traditional IRA?

The money you contribute to a Roth IRA has already been taxed and the principal amount is not subject to taxes or penalties as long as you stay within the contribution guidelines.

This retirement plan allows the money you contribute to grow tax-deferred. If you do not withdraw any of the earnings until you have had the Roth IRA for at least five years, those tax-deferred earnings become tax-free.

There is no IRS age limit for contributions or distributions.


How much can I contribute?

Who is eligible to open a Roth IRA?

When can I take my money out?

How do I open a BankDirect IRA?



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