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Retirement Accounts

Flexible retirement accounts that put you in control

We offer a variety of retirement accounts designed to meet your income and lifestyle needs. Learn about the different retirement accounts below, then open your account today.

Traditional IRA

A Traditional IRA may give you an immediate tax benefit because contributions are often tax deductible. With a Traditional IRA, up to $6,000 of tax deferred income may be placed in the IRA. Account owners may also contribute an additional $6,000 a year of earned income to a separate IRA for a non-income-earning spouse. Account owners who are age 50 or over are allowed to contribute an additional $1,000.

Taxable distributions from an IRA can be taken without penalty starting at age 59½ and must be started by April 1st of the year following the year the account owner reaches 73 (unless you turned 72 prior to January 1, 2023, then your RMD's must begin by 72. Those who turned 70 1/2 prior to January 1, 2020 had to start RMD's at 70 1/2). If this is the case, you must begin taking distributions starting April 1st of the year following the age the account owner reaches 70½.

Basic eligibility requirements

Starting in tax year 2020, there are no age limits
You must have earned income or a spouse with qualified earned income
No income limits

Account Minimums and Fees:

There is no minimum initial deposit required to open an account
There are no maintenance fees for retirement accounts

Commissions, service fees and exception fees still apply. See our commission and brokerage fees for details.

Need help deciding between a Traditional IRA or a Roth IRA? Try our IRA Selection Tool

Open a Traditional IRA

Roth IRA

A Roth IRA’s tax advantages differ from the Traditional IRA. If eligible for this account, your annual contribution limits are the same but are not tax deductible. However, since annual contributions have already been taxed, these contributions will never be taxed again and earnings can grow tax free. Finally, the contributed funds can be withdrawn any time you wish and there are no required minimum distributions.

Withdrawals

Withdrawals of your contributions to a Roth IRA are tax-free anytime. However, withdrawals of earnings are only free from federal income tax, provided they meet the following requirements:

You are purchasing your first home ($10,000 lifetime maximum)
The Roth IRA has been in existence for at least five years
You are age 59½ or older
You become disabled or have passed away

What You Should Know About Converting Costs

You can convert a Traditional IRA to a Roth IRA at any time. You must note that when you convert to a Roth IRA, you must pay income tax on the otherwise taxable amount of the transfer. To maximize the benefits of conversion, the money to pay those taxes should come from a source outside the Traditional IRA you are converting. You may convert your Traditional IRA over several years to manage the tax consequences.

Account Minimums and Fees:

There is no minimum initial deposit required to open an account
There are no maintenance fees for retirement accounts

Commissions, service fees and exception fees still apply. See our commission and brokerage fees for details.

Need help deciding between a Traditional IRA or a Roth IRA? Try our IRA Selection Tool or view our IRA guide to find out which IRA is right for you.

Open a Roth IRA

Rollover IRA

Consolidate your retirement savings by rolling your old 401k over into one convenient, easy-to-monitor account. Our Rollover IRA process is fast and hassle-free. Rolling over assets from your old employer's plan into a TD Ameritrade IRA can help you better manage your portfolio and can provide access to a broad range of investments, while maintaining the tax-deferred status of your retirement assets.

A Rollover IRA is designed as a holding account for funds distributed from an employer's qualified retirement plan such as a 401k or 403(b). Moving funds into a Rollover IRA may allow the account owner to return the funds to another employer's qualified retirement plan in the future. To initiate a direct rollover from a qualified retirement plan, please contact your plan administrator.

Rolling over your old 401k into a TD Ameritrade IRA is free and there are no setup or maintenance fees. You'll also avoid costly cash distribution penalties and taxes if you were planning to cash out your accounts.

A rollover is not your only alternative when dealing with old retirement plans. Learn more about rollover alternatives.

Account Minimums and Fees:

There is no minimum initial deposit required to open an account
There are no maintenance fees for retirement accounts

Commissions, service fees and exception fees still apply. See our commission and brokerage fees for details.

Need Help with Your IRA Rollover?

A New Account Representative can:

Answer questions about the 401k rollover process.
Help you explore available investment choices when rolling over your old 401k.
Call 800-454-9272 to schedule a phone consultation.

Learn more about rolling over your old 401k and decide if it's the right choice for you.

Open a Rollover IRA

Small Business Retirement Account Types

Important information

If you want to add an account/employee to an existing TD Ameritrade plan, please select the plan type below and download the account opening forms. Employers: if you are opening an entirely NEW PLAN, please visit Charles Schwab, LLC. Note: Charles Schwab does NOT offer new Money Purchase Pension or Profit Sharing Plans. Employers may add new employee participants to existing plans only.

SEP IRA

A SEP (Simplified Employee Pension Plan) IRA is a retirement plan for self-employed individuals and small business owners and employees. SEP IRAs may not only be attractive to your employees, they can also be quick and easy to set up and administer for your small business. Consider a SEP if your business is new or has variable profits.

Key Features include simple administration, no employer tax filing, no specific annual funding requirements, and flexible contributions.

Eligibility Requirements for Employees Employees must be age 21 or older, have earned at least $750 during 2023 and have worked three out of the five previous years. Employers may adopt less restrictive eligibility requirements so as not to exclude themselves from participating in the plan.

Set-Up and Funding A SEP IRA must be established and funded prior to the employer's tax return due date, plus extension. Contributions can vary by year. All contributions are reported in the tax year received on tax form 5498.

Contributions
• 2022 Tax Year: Lesser of 25% of compensation or $61,000
• 2023 Tax Year: Lesser of 25% of compensation or $66,000

Employer must complete and retain Form 5305-SEP or other plan documents in their records. Employees should receive a copy.

Here’s what you need to open your SEP IRA. To learn more about your relationship with TD Ameritrade, review our Client Relationship Summary.

Download, print, complete, and return these forms no later than August 18, 2023:

Consent to Transfer Your Account to Schwab

Individual Retirement Account (IRA) application

IRS Form 5305-SEP (employers only – do not return to TD Ameritrade)

Deposit slip (optional)

Transfer form (optional)

Keep these documents for your records:

Client Relationship Summary

Individual Retirement Custodial Account Agreement

Standard Retail Pricing: Commissions and Fees

TD Ameritrade Privacy Statement

Client Agreement

Summary of Cash Sweep Program

Send the forms to us:
Regular mail:
TD Ameritrade, Inc.
PO Box 2760
Omaha, NE 68103-2760

Overnight mail:
TD Ameritrade, Inc.
200 South 108 Ave.
Omaha, NE 68154-2631

Fax: 1-866-468-6268

We’ll process your application within 1-2 days of receiving the forms and contact you if we need more information. New TD Ameritrade SEP IRAs will no longer be opened for forms received after August 18, 2023.

Solo 401k (for small business)

SIMPLE IRA (Savings Incentive Match Plan for Employees)

A SIMPLE IRA is a retirement program that is easy-to-administer and salary-deferred. It is for employees with an employer match option. Consider a SIMPLE IRA if your business has steady income and your employees want to make contributions to a retirement plan. Employers with 100 or fewer eligible employees who did not maintain another retirement plan are eligible to establish a SIMPLE IRA.

Key Benefits of SIMPLE IRAs include simple administration and low costs, no employer tax filings, no IRA contribution testing, employees can make contributions, and doesn’t limit employee access to funds.

Set-Up and Funding A SIMPLE IRA must be established prior to October 1. The employer contribution (match or non-elective) must be made by the employer's tax return due date, plus extension. All contributions are reported in the tax year received on tax form 5498.

Here’s what you need to open your SIMPLE IRA. To learn more about your relationship with TD Ameritrade, review our Client Relationship Summary.

Download, print, complete, and return these forms no later than August 18, 2023:

Consent to Transfer Your Account to Schwab

Individual Retirement Account (IRA) application

IRS Form 5304-SIMPLE (employers only – do not return to TD Ameritrade)

Deposit slip (optional)

Transfer form (optional)

Keep these documents for your records:

Client Relationship Summary

Simple Individual Retirement Custodial Account Agreement

Standard Retail Pricing: Commissions and Fees

TD Ameritrade Privacy Statement

Client Agreement

Summary of Cash Sweep Program

Send the forms to us:
Regular mail:
TD Ameritrade, Inc.
PO Box 2760
Omaha, NE 68103-2760

Overnight mail:
TD Ameritrade, Inc.
200 South 108 Ave.
Omaha, NE 68154-2631

Fax: 1-866-468-6268

We’ll process your application within 1-2 days of receiving the forms and contact you if we need more information. New TD Ameritrade SIMPLE IRAs will no longer be opened for forms received after August 18, 2023.

Money Purchase Pension or Profit Sharing Plans are employer contribution plans that may be used by any size business, although larger plans (plans with more than a few participants) may want to consider a full-service provider, rather than this do-it-yourself product designed for self-employed business owners and other small companies. Many older Keogh plans are now either Money Purchase, Profit Sharing or both.

While the two (2) plans are similar in both only permitting employer contributions, Money Purchase Pension plans require annual contributions, while Profit Sharing Plans do not.

A Profit Sharing Plan may be a good choice for you if your company has variable profits, but you want to reward your employees by giving them a percentage of the company’s profits (although you may not need profits or employees to make contributions). Whereas, employers who want to commit to annual contributions may use a Money Purchase Plan.

Key Features include tax-deductible contributions for your business and tax-deferred growth potential, employers have the option to make contributions subject to a vesting schedule, and TD Ameritrade offers a prototype plan document and adoption agreement with IRS Opinion Letter and will provide 1099-R tax reporting for plan distributions.

Eligibility Requirements for Employee Coverage
Employees must be included in the plan if:
• They’ve been employed at the company for at least one year (or two years if the plan is always 100% vested)
o 1,000 hours or more during a plan year equals one (1) year of service. You can never require more than 1,000 hours of service in a year.
• They’re 21 years of age or older
• An employer can use less restrictive participation requirements than those listed above, but not more restrictive. For example, an employer can make all employees immediately eligible for the plan.

Set-Up and Funding Plans may be set-up and contributions made prior to the employer’s tax filing deadline, including extensions.

Employer must complete and retain the Summary Plan Description (SPD) and other plan documents in their records. Employees (if you have any) should receive a copy of the completed current SPD.

Contributions
• 2022 Tax Year: Lesser of 25% of employee compensation or $61,000
• 2023 Tax Year: Lesser of 25% of employee compensation or $66,000

Here’s what you need to open your account. To learn more about your relationship with TD Ameritrade, review our Client Relationship Summary.

Download, print, complete, and return these forms no later than August 18, 2023:

Consent to Transfer Your Account to Schwab

Participant Application and Designation of Beneficiary

Profit Sharing Plan Adoption Agreement (employers only)

Money Purchase Pension Adoption Agreement (employers only)

QRP Plan Information Form

Account Transfer Form (optional)

Keep these documents for your records:

Client Relationship Summary

Qualified Retirement Plan and Trust: Defined Contribution Basic Plan Document (for MPP/PSP)

Profit Sharing Summary Plan Description

Money Purchase Pension Summary Plan Description

A Complete Guide to Establishing a Qualified Retirement Plan

Section 408(b)(2) Disclosure Summary

Client Agreement

Standard Retail Pricing: Commissions and Fees

TD Ameritrade Privacy Statement

Summary of Cash Sweep Program

Send the forms to us:
Regular mail:
TD Ameritrade, Inc.
PO Box 2760
Omaha, NE 68103-2760

Overnight mail:
TD Ameritrade, Inc.
200 South 108 Ave.
Omaha, NE 68154-2631

Fax: 1-866-468-6268

We’ll process your application within 1-2 days of receiving the forms and contact you if we need more information. New TD Ameritrade Pension Profit Sharing plans will no longer be opened for forms received after August 18, 2023. Employers: no new plans will be opened by TD Ameritrade after August 18. New plans are not currently allowed by Charles Schwab.

Get in touch Call or visit a branch

Call us: 800-454-9272

175+ Branches Nationwide