Individual Retirement Accounts

This page will provide you with helpful information about individual retirement accounts at Schwab. Jump to different sections and click on a link to view a specific article.

SECURE Act

Articles related to SECURE Act

Introduction to the SECURE Act
The Setting Every Community Up for Retirement Enhancement Act (better known as the SECURE Act), took effect on January 1, 2020. On January 1, 2023, the SECURE Act 2.0 went into effect which further expanded the retirement savings. It makes significant changes to retirement savings rules and is likely to affect people in or near retirement, new parents, and small business owners and employees. It also will have a major impact on estate planning.

Articles related to 401(k) Accounts

Articles related to 401(k) Accounts

Introduction to Individual 401(k) plans
An individual 401(k) is a retirement plan designed for self-employed individuals and their spouses and owner-only businesses (including corporations, partnerships, and sole proprietorships).

How to open an individual 401(k) plan
Open an individual 401(k) plan using DocuSign® or submit paper forms through a Service Request. An individual 401(k) is a retirement plan designed for self-employed individuals and their spouses and owner-only businesses (including corporations, partnerships, and sole-proprietorships).

Articles related to Traditional IRA accounts

Articles related to Traditional IRA accounts

Introduction to traditional IRAs
A traditional individual retirement account (IRA) allows your client to save for retirement. There is no minimum amount required to open, and contributions to the account grow tax-deferred.

How to open a traditional IRA
Open a traditional individual retirement account using digital workflow, DocuSign or submit a Service Request. A traditional individual retirement account (IRA) allows your client to make contributions until age 73. On January 1, 2023, the RMD age changed from 72 to 73. There are no minimum amounts required to open an account, and contributions to the account grow tax-deferred.

How to open an IRA for international clients/residents
Clients physically residing outside the U.S. can open IRAs using U.S.-earned income in accordance with OFAC-prohibited jurisdictions and Schwab's foreign account acceptance policies.

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Articles related to Roth IRA accounts

Articles related to Roth IRA accounts

Introduction to Roth IRAs
A Roth individual retirement account (IRA) is a retirement savings option for clients looking for potentially greater tax savings than a traditional IRA. Contributions can be made at any age and are made post-tax. Earnings grow tax-free, and qualified withdrawals and distributions are free of federal income tax if certain requirements are met.

How to open a Roth IRA
A Roth individual retirement account (IRA) is a retirement savings option for clients looking for potentially greater tax savings than a traditional IRA offers. Contributions are made post-tax; earnings grow tax-free; and qualified withdrawals and distributions are free of federal income tax if certain requirements are met. Open a Roth IRA using digital onboarding DocuSign or paper forms.

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Schwab's policy for clients in international jurisdictions
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Articles related to Inherited IRA accounts

Articles related to Inherited IRA accounts

Introduction to inherited IRAs
Overview of eligibility and options to transfer assets after the death of the original account owner.

How to open an inherited IRA
Open a new inherited IRA funded by assets transferred or rolled over from another institution using digital onboarding, DocuSign or submit forms through a Service Request. An inherited individual retirement account (IRA), also known as a beneficiary IRA, is available to a designated beneficiary upon the death of the original IRA holder.

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How to use digital onboarding

Articles related to Custodial IRA accounts

Articles related to Custodial IRA accounts

Introduction to custodial IRAs
Overview of document requirements and options to open a custodial IRA, a retirement account for minors with earned income.

How to open a custodial IRA
A custodial IRA account is a retirement account for minors with earned income, which allows savings to grow either tax-free or tax-deferred. The account is established as a traditional IRA, Roth IRA, or Roth conversion IRA, and is managed by a parent or guardian over age 18. You can open a custodial account using DocuSign.