Can Underage Dependents Contribute to a Roth IRA

[DMS3470]

Can children, who are under the age of 18, contribute to their own Roth IRA?

[SundayInSalem · Accepted solution]

There is no minimum age limit to open a Roth IRA. However, your child may not be able to open the account themselves. Your financial institution may require a custodial or guardian account.

Additionally there may be a minimum contribution amount so if you child only made a few hundred dollars, you may not be able to find a bank or brokerage willing to open an account.

Starting an IRA for Your Child: The Benefits

[AR_CPA]

Hello DMS3470,

Hope you're doing great!

Any child, regardless of age, can contribute to an IRA provided they have earned income.  A child's IRA has to be set up as a custodial account by a parent or other adult. 

Roth IRAs