Fifth Third Bank

Is Opening a Roth IRA Right for You?

Discover Potentially Tax-Exempt Retirement Income

With a Roth IRA, your money may grow tax free and withdrawals may also be tax free.

A Roth IRA is an individual retirement account that is different from a traditional IRA. Unlike a traditional IRA, distributions from Roth IRAs may be tax-exempt at withdrawal, an important consideration when you are in retirement. There is no age limit on who can contribute to a Roth IRA and you are not required to take distributions. In addition, contributions can be withdrawn at any time, without taxes or penalties. Once you are 59 ½ years old and the account has been open for five years or more, earning may be withdrawn tax free and penalty free. See the chart below for more information on whether opening a Roth IRA is right for you:

Roth IRAs

Opening an Account

  • There is no minimum investment requirement to opening a Fifth Third Securities Roth IRA
  • Deadline to open and fund for 2013: April 15, 2014
  • Maximum contribution for 2013: $5,500 ($6,500 age 50 and over)


Individuals with earned income (includes a spouse with earned income, if married and filing jointly), and do not have a Modified Adjusted Gross Income (MAGI) in 2011 exceeding:

  • $110,000 (single) or $173,000 (joint) for full contribution
  • $125,000 (single) or $183,000 (joint) for partial contribution

Tax Advantages

  • Earnings may grow tax free. However, contributions are not tax deductible
  • Offers an opportunity to create tax-free income during retirement
  • Heirs may also benefit from tax-free growth and income


  • No Required Minimum Distribution (RMD) at age 70½
  • Because initial contributions are not tax deductible, you can withdraw contributions at any time, free of tax or penalty
  • Earnings are income tax free and penalty free if distributions are qualified
  • You may be subject to a 10% IRS early withdrawal penalty if distributions are not qualified

To learn about opening a Roth IRA, converting a traditional IRA to a Roth IRA, or for a retirement analysis to make sure you are on track, contact a Fifth Third Securities Investment Professional.

Get Advice and Guidance

Contact a Fifth Third Securities Investment Professional, visit a Fifth Third Banking Center near you, call us toll free at 1-800-416-8714, or fill out a contact form.

Fifth Third Securities does not provide tax advice. Please consult your tax advisor before making any decisions or taking any action based on this information.

Fifth Third Securities is the trade name used by Fifth Third Securities, Inc., member FINRA/SIPC, a broker-dealer and an investment advisor registered with the U.S. Securities and Exchange Commission (SEC). Registration does not imply a certain level of skill or training. Fifth Third Securities is a wholly owned subsidiary of Fifth Third Bank. Securities and investments offered through Fifth Third Securities, Inc. and insurance products:

Are Not FDIC Insured Offer No Bank Guarantee May Lose Value
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