Roth IRA | Open a Roth IRA With Merrill Edge
A Roth IRA provides the opportunity for your earnings to grow tax-free.
Tax-advantaged growth
  • Earnings are federal and, in most cases, state tax-free if withdrawn at or after age 59 ½ and your Roth IRA account has been open five years or more¹
  • Your contributions (not earnings) can be withdrawn tax-free at any time
  • No required minimum distribution at or after age 70 ½
Contributions
  • If you are under age 50 you can contribute up to $5,000 for 2012 and up to $5,500 for 2013
  • For each year during which you are age 50 or older, you can make an additional $1,000 contribution
Ways to Invest
Investment products offered by Merrill Edge
Mutual Funds
Stocks, Bonds, ETFs
Bank products offered by Bank of America, N.A.
Money Market IRA
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Eligibility
Anyone, as long as your modified (MAGI) does not exceed:
  2013
Single Tax-Return Filers $127,000
Joint Tax-Return Filers $188,000
  • Account Owner must have earned income equal to or greater than their IRA contribution amount
  • If you contribute to an employer-sponsored plan like a 401(k) or 403(b), you are still eligible to open a Roth IRA as long as you meet the eligibility requirements above.
  • If you have no earned income but your spouse earns enough income to cover your contribution as well as their own, and their income (AGI) does not exceed the limits above, you can contribute to a Roth IRA account
  • See the Roth Contribution Chart below for more details on Roth IRA accounts
Not sure if a Roth IRA or Traditional IRA is right for you? Compare IRAs
We Offer No Fee IRAs²

Annual and custodial fees waived for many of our IRAs.

Roth IRA Tax Contribution Chart
Roth IRA Contribution limits & Eligibility
Eligibility to contribute to a Roth IRA is based on several factors:
  • Your federal tax filing status
  • The amount of your modified adjusted gross income
  • Your age

Before you open a Roth IRA, review the chart below for guidelines.

Roth IRA Contribution limits
If your Modified Adjusted Gross Income
and filing status is:
Your Maximum Contribution
can be:
Single Filers Married Filing Jointly Under Age 50 Age 50 and Over
$112,000 & under $178,000 & under $5,500 $6,500
$113,500 $179,000 $4,950 $5,850
$115,000 $180,000 $4,400 $5,200
$116,500 $181,000 $3,850 $4,550
$118,000 $182,000 $3,300 $3,900
$119,500 $183,000 $2,750 $3,250
$121,000 $184,000 $2,200 $2,600
$122,500 $185,000 $1,650 $1,950
$124,000 $186,000 $1,100 $1,300
$125,500 $187,000 $550 $650
$127,000 & over $188,000 & over $0 $0
This chart shows Roth IRA Contribution Limits - the maximum amount you can contribute to a Roth IRA account. You can contribute up to the maximum shown or 100% of earned income (i.e., your taxable compensation), whichever is less.
Additional Considerations:
Spousal IRA - A nonworking spouse can make a Roth IRA contribution as long as the couple files a joint federal tax return, the working spouse has enough earned income to cover the contribution, and their modified adjusted gross income is within the range listed above.
Married Filing Separately - If you are Married, Filing Separately and your AGI is greater than $10,000, you may not be eligible to contribute to a Roth IRA account.
You may contribute simultaneously to a Traditional IRA and a Roth IRA (subject to eligibility) as long as the total contributed to all (Traditional and/or Roth) IRAs equals no more than the contribution limits listed above for the year of the contribution.
Please see IRS Publication 590 at www.irs.gov for further details regarding Roth IRA contribution guidelines.
Neither Bank of America N.A. nor Merrill Lynch, Pierce, Fenner & Smith incorporated (MLPF&S) are tax or legal advisors. We suggest you consult your personal tax or legal advisor before making tax or legal related investment decisions.
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1 There is a single, 5 year holding period when determining whether earnings can be withdrawn federally tax-free as part of a qualified distribution from a Roth IRA. This period begins January 1 of the year of the first contribution to any Roth IRA account.

2 Certain restrictions apply.

Individuals who contribute or transfer $5,000 or more in cash or securities to a qualifying Merrill Edge SEP, SIMPLE, Roth, traditional or rollover IRA by December 31, 2013, will have their annual custodial fee of up to $100 waived for the life of the account. Waiver of fees, including account fees, may not be used as an inducement to sell any kind of insurance, including life insurance or annuities. All other fees will still apply. For more detailed information about the fees associated with a Merrill Edge IRA, please refer to your IRA Disclosure & Custodial Agreement. Trust IRA, 529 accounts and Coverdell ESAs do not qualify for the IRA custodial fee waiver status. Contributions or transfers can be made in a lump sum or in several contributions or transfers totaling $5,000 or more to one account. Assets transferred from existing Merrill Lynch accounts and cumulative household account investments totaling $5,000 do not qualify for the fee waiver. Investment value is based solely on the asset valuation at the time of contribution or transfer and is not affected by subsequent market fluctuations. This offer is subject to change and/or termination without advance notice.