What is the difference between a open and closed Roth IRA? If I am retired and no longer contribute to a Roth IRA but have a balance, is that a closed IRA
022542
1 Best answer
Lisa995
Alumni
Jun 4, 2019 2:25:05 PM
If you still have money in there then the account is still open.
2 Replies
Lisa995
Alumni
Jun 4, 2019 2:25:05 PM
If you still have money in there then the account is still open.
PaulaM
Employee Tax Expert
Jun 4, 2019 2:25:08 PM
If you have a Roth IRA with a balance, it is still open until you withdraw the entire amount or move it to another Roth IRA.