Open an IRA. Let's get started.

Need help? Call 800-545-1260

Contributing to a new IRA?

Select the type you would like.


Moving money from an existing 401(k) or IRA?

Select your source.

Account Service Fee

An annual fee of $20 will be charged for each T. Rowe Price mutual fund account with a balance below $10,000. The account service fee, which is intended to help offset the relatively higher costs associated with servicing lower balance accounts, will be automatically deducted from the account's assets. Investors may qualify for a waiver of the account service fee in any of the following three ways:

  • Subscribe to electronic delivery of statements, confirmations, and prospectuses and shareholder reports;
  • Maintain an individual combined balance of $50,000 or more for all T. Rowe Price accounts (including mutual funds, Brokerage, Variable Annuity, and Small Business Retirement Plans); or
  • Qualify for T. Rowe Price Select Client Services based on higher asset levels of $100,000 or more.

Roth IRA vs. Traditional IRA

Roth IRA
Traditional IRA
Pay taxes now. Pay taxes later.
Contributions may be withdrawn at any time without taxes or penalties. Contributions may be tax-deductible.
Earnings may be withdrawn tax-free and penalty-free once you reach age 59½ and the account has been open for at least five years. Earnings grow tax-deferred. You generally pay taxes when you make withdrawals, often in retirement.
No age restrictions for contributions. You must be under age 70½ to contribute.
You may not be eligible to contribute if your income is over $129,000 in tax year 2014 ($131,000 in tax year 2015) for single filers or $191,000 in tax year 2014 ($193,000 in tax year 2015) for joint filers. No income restrictions on eligibility to contribute, but possibly on deductibility.
No required minimum distributions (RMDs). Must begin taking required minimum distributions (RMDs) at
age 70½.

Learn more about a Roth IRA

Learn more about a Traditional IRA

Minimums & Maximums

  • Minimum contribution: $1,000 to open an IRA account, with subsequent minimum contribution of $100 per transaction
  • Maximum contribution: $5,500 per year ($6,500 if you are age 50 or over)

Low fees

We offer a wide range of low-cost, no-load investments. Certain account fees are waived if you select our paperless options.

The IRA Selection Tool

Complete this simple four-step questionnaire to help clarify the choice that's right for you.
    Video In this helpful three minute video, Sr. Financial Planner Stuart Ritter
offers a more detailed comparison and evaluation of both IRAs.

Considerations for a Roth IRA conversion

  • Roth IRAs have no distribution requirements.
  • You may potentially reduce or eliminate the taxes your beneficiaries will have to pay after inheriting.
  • When converting to a Roth IRA, a key consideration is whether to pay taxes now in order to provide tax-free income potential in the future.

For assistance, call 877-200-5503.

Are you moving money from another source?

Roll over a 401(k)

A rollover IRA is one of several options to consider for your former workplace retirement plan, such as a 401(k).


Convert a Traditional IRA to a Roth IRA

A Roth IRA offers many advantages over a Traditional IRA like tax-free withdrawals if you need them.


Transfer an existing IRA

To simplify your finances, you can consolidate assets by transferring an existing IRA account to T. Rowe Price.