No, but they are very similar.
Both allow earnings to be taken out tax-free starting at age 59 1/2. They are funded with after-tax money.
Note: distribution from Roth accounts must be reported, meaning entered into the software using the information on your Form 1099–R,
- Roth 401(k) requires distributions when you turn 70 1/2. Roth IRA does not. You can roll over a Roth 401(k) into a Roth IRA to get around the mandatory distribution.
- Employers cannot make matching contributions to Roth IRAs, but they can to Roth 401(k)s.
- Roth IRAs have an income limit for contributions, but Roth 401(k)s do not.
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