How to open a Roth IRA at Fidelity

You can open a Roth IRA at Fidelity online in about 15 minutes, or by phone if you prefer to speak with someone. The process requires your Social Security number, date of birth, employment information, and a funding method — either a bank account for a transfer or an existing Fidelity account. Fidelity does not charge an account opening fee, and you can start with any amount, though you will need to fund it with at least enough to meet any investment minimums if you choose a mutual fund or stock.

The online path is fastest: go to Fidelity's website, select "Open an Account," choose "Roth IRA," and answer questions about your personal information and investment experience. You will review the account agreement, fund the account, and choose your investments. If you have questions during setup or want guidance on investment choices, you can call Fidelity at 1-800-343-3548 and a representative will walk you through it.

Key Takeaways

  • Opening a Roth IRA at Fidelity takes 15 minutes online or by phone, with no account opening fee.
  • You will need your Social Security number, date of birth, employment details, and a bank account or existing Fidelity account to fund it.
  • After opening, you choose how to invest the money — in mutual funds, individual stocks, bonds, or money market funds.
  • Fidelity has no minimum deposit to open the account, but some investments have their own minimums, typically $1,000 to $2,500 for mutual funds.
  • You can contribute up to $7,000 per year (or $8,000 if you are 50 or older) to a Roth IRA, though Fidelity does not enforce this limit — you are responsible for staying within the legal limit.

What you need before you start

Gather these documents and information before opening your account. You will need your Social Security number, date of birth, and current address. Have your employment information ready — your employer's name and the type of work you do. If you are self-employed, have your business name and structure (sole proprietor, LLC, S-corp, etc.).

You will also need a way to fund the account. This can be a bank account (checking or savings) for a direct transfer, or if you already have a Fidelity brokerage account, you can transfer money from there. Have your bank's routing number and your account number ready if you are linking a bank account for the first time.

If you are opening the account online, have a valid government-issued ID available — Fidelity will ask you to verify your identity as part of the process. A driver's license or passport works.

Opening your account online

Go to Fidelity.com and click "Open an Account" at the top of the page. Select "Roth IRA" from the account type menu. You will be asked whether this is a new Roth IRA or if you are rolling over money from another Roth IRA or converting a traditional IRA — select "New Roth IRA" unless you are moving money from an existing retirement account.

Fill in your personal information: name, Social Security number, date of birth, address, phone number, and email. Answer questions about your employment — whether you work for an employer, are self-employed, or are retired. Fidelity uses this to confirm you have earned income, which is required to contribute to a Roth IRA. If you are married and filing jointly, your spouse's income counts toward your contribution limit.

Review the Roth IRA account agreement and the Fidelity brokerage account agreement. Check the boxes to confirm you have read them. Fidelity will then ask you to verify your identity — this usually means answering questions based on your credit history or uploading a photo of your ID. Once verified, you will see a confirmation that your account is open.

Funding your account

After your account opens, you will be prompted to fund it. Choose "Link a Bank Account" if you want to transfer money from your checking or savings account. Enter your bank's routing number and your account number. Fidelity will send two small deposits (usually under $1) to your bank account within one to two business days. Log into your bank and confirm the amounts — this verifies you own the account. Once confirmed, you can transfer money to your Roth IRA.

The first transfer typically takes three to five business days. If you want to fund the account immediately and you already have a Fidelity brokerage account, you can transfer money from there instead — this settles the same day.

You are not required to fund the account right away. You can open the account and fund it later, as long as you contribute before the tax filing deadline for that year (usually April 15 of the following year).

Choosing your investments

Once your money is in the account, you will choose how to invest it. Fidelity offers mutual funds, individual stocks, bonds, exchange-traded funds (ETFs), and money market funds. If you are unsure where to start, Fidelity's "Suggested Portfolios" tool recommends a mix of funds based on your age and risk tolerance — this is a simple way to get a diversified portfolio without picking individual investments.

Many people new to investing choose a target-date fund, which automatically shifts from stocks to bonds as you get closer to retirement. These have names like "Fidelity Freedom Index 2050" (if you plan to retire around 2050). The fund rebalances itself, so you do not have to.

If you choose a mutual fund, check its minimum investment — most Fidelity mutual funds have a $2,500 minimum, though some have $1,000 minimums. Fidelity's own index funds (branded as Fidelity ZERO) have no minimum. Individual stocks and ETFs have no minimums beyond the price of a single share.

Opening your account by phone

If you prefer not to open your account online, call Fidelity at 1-800-343-3548. A representative will ask the same questions as the online form — your personal information, employment details, and how you want to fund the account. They will guide you through the Roth IRA agreement and set up your investments while you are on the call.

Phone lines are open Monday through Friday, 8 a.m. to 10 p.m. Eastern time, and Saturday, 8 a.m. to 6 p.m. Eastern time. Opening by phone takes about 30 minutes because the representative walks through each step with you.

After your account is open

Once your Roth IRA is funded and invested, you can log into your Fidelity account anytime to check your balance, make changes to your investments, or add more money. You can contribute up to $7,000 per year (or $8,000 if you are 50 or older), though Fidelity does not track this for you — you are responsible for staying within the legal limit based on your income.

You can also set up automatic contributions if you want to add money on a regular schedule — for example, $500 per month. This is done through your account settings under "Automatic Investments."

If you have questions about your investments or want to make changes, you can call Fidelity, use the mobile app, or log into your account online. There is no fee to make changes or to rebalance your portfolio.

Frequently Asked Questions

Do I need a minimum amount of money to open a Roth IRA at Fidelity?

No. Fidelity does not require a minimum deposit to open the account itself. However, if you choose to invest in a mutual fund, that fund may have a minimum — typically $1,000 to $2,500. Fidelity's index funds (ZERO funds) and individual stocks or ETFs have no minimums.

Can I open a Roth IRA if I am self-employed?

Yes. Fidelity will ask about your self-employment income during setup. You must have earned income to contribute to a Roth IRA, and self-employment income counts. You will report your contribution on your tax return.

What if I do not have a bank account to link?

If you already have a Fidelity brokerage account, you can transfer money from there to fund your Roth IRA. Otherwise, you will need to link a bank account or bring cash to a Fidelity branch if one is near you. Call 1-800-343-3548 to ask about other funding options.

How long does it take to open a Roth IRA at Fidelity?

Online, the account opens in 15 minutes. Identity verification usually completes within a few minutes, though it can take up to one business day. Funding the account takes three to five business days if you are transferring from a bank account.

Can I change my investments after I open the account?

Yes. You can buy, sell, or switch investments anytime without penalty or fee. Many people rebalance their portfolio once a year or when their life circumstances change.