How to open a Fidelity Roth IRA

You can open a Fidelity Roth IRA online in about 10 minutes, by phone, or in person at a Fidelity branch. The online route is fastest: go to fidelity.com, select "Open an Account," choose "Roth IRA," and answer questions about your employment, income, and citizenship. Fidelity will ask for your Social Security number, date of birth, and address. You'll link a bank account to fund the account, and the Roth IRA is active once Fidelity confirms your identity — usually the same day or next business day.

If you prefer to speak with someone, call Fidelity at 1-800-343-3548 (Monday through Friday, 8 a.m. to 10 p.m. ET; Saturday, 8 a.m. to 7 p.m. ET). A representative will walk you through the same questions and can answer questions about contribution limits or investment choices before you fund the account. You can also visit a local Fidelity branch if one is near you.

Key Takeaways

  • Online account opening takes about 10 minutes and is active the same day or next business day once your identity is confirmed.
  • You will need your Social Security number, date of birth, address, and a bank account to link for funding.
  • Fidelity will ask about your employment status and income to verify you are may be able to access to contribute to a Roth IRA that year.
  • You can fund the account immediately after opening it, or wait and contribute later — there is no deadline to make your first deposit.
  • If you already have a Roth IRA elsewhere, you can roll it into your new Fidelity account after opening.

What information you need before you start

Gather these documents before you begin, whether you open online or by phone: your Social Security number, date of birth, current address, and the routing and account number for the bank account you want to link. Fidelity uses this information to verify your identity and set up the connection to fund your account.

You will also need to know your employment status — whether you work as a W-2 employee, are self-employed, or are retired. Fidelity asks this because Roth IRA contributions are only allowed if you have earned income that year. If you are married and your spouse works, you may be able to open a spousal Roth IRA even if you do not work; Fidelity will explain this option during the process.

Have your most recent tax return or pay stub handy if you are unsure of your income. Fidelity will ask for your gross income to confirm you are within the income limits for Roth IRA contributions that year. Income limits change annually and depend on your filing status (single, married filing jointly, etc.).

The online account opening process

Start at fidelity.com and look for "Open an Account" in the top navigation. Select "Roth IRA" from the account type menu. Fidelity will ask you to choose whether this is your first Roth IRA or you are rolling over an existing one from another institution.

Answer the personal information questions: full name, date of birth, Social Security number, current address, phone number, and email. Fidelity will ask about your citizenship and tax residency status. Next, you will answer employment questions: your job title, employer name, and gross income for the current year. Be as accurate as possible — Fidelity uses this to confirm you meet the income requirements.

You will then choose how to fund the account. Link your bank account by entering your routing number and account number, or mail a check to Fidelity. Most people link a bank account because funding is immediate. Fidelity will verify your identity by asking a few security questions based on your credit history, then confirm your account is open.

Opening by phone or in person

Call 1-800-343-3548 to open a Roth IRA with a Fidelity representative. Have the same information ready: Social Security number, date of birth, address, employment details, and your bank account information. The call usually takes 15 to 20 minutes. The representative will enter your information into Fidelity's system, answer any questions about investment choices or contribution limits, and confirm your account is open before you hang up.

If you have a Fidelity branch nearby, you can also open an account in person. A branch representative will complete the same process and can show you how to log into your account and make your first investment choice on the spot. Find your nearest branch at fidelity.com/branches.

Funding your account after opening

You do not have to fund your Roth IRA the day you open it. The account exists and is ready to receive money whenever you are ready. If you linked a bank account during opening, you can transfer money from that account to your Roth IRA anytime by logging into your Fidelity account and selecting "Transfer Funds." If you chose to mail a check, write your account number on the check and mail it to the address Fidelity provides.

For 2024, you can contribute up to $7,000 to a Roth IRA if you are under 50, or $8,000 if you are 50 or older. This limit resets January 1 each year. You can contribute at any time during the year, but contributions for a given tax year must be made by the tax filing deadline (usually April 15 of the following year) to count toward that year's limit.

Once money is in your account, you will choose how to invest it. Fidelity offers mutual funds, exchange-traded funds (ETFs), individual stocks, and bonds. If you are unsure where to start, Fidelity's target-date funds automatically adjust their mix of investments as you get closer to retirement.

Rolling over an existing Roth IRA from another institution

If you already have a Roth IRA at another bank or brokerage, you can move it to Fidelity. During the online opening process, select "I am rolling over an existing Roth IRA." Fidelity will ask for the name of your current institution and your account number there.

Fidelity handles most of the work: they contact your current institution, request your account balance, and arrange the transfer. This is called a direct rollover and takes 5 to 10 business days. Your money moves directly from the old account to Fidelity without passing through your hands, so there are no tax consequences. Once the transfer is complete, your Fidelity Roth IRA holds all the money and investments from your old account.

Choosing your investments

After your account opens and you fund it, you will choose what to invest in. Fidelity offers thousands of options: mutual funds, ETFs, individual stocks, bonds, and money market funds. If you are new to investing, Fidelity's target-date funds are a simple starting point — you pick the year you plan to retire, and the fund automatically holds a mix of stocks and bonds that becomes more conservative as that year approaches.

You can also use Fidelity's Go Advisor tool, which asks a few questions about your age, risk tolerance, and goals, then suggests a portfolio mix. You are not required to invest immediately — you can leave money in your cash management account (which earns interest) while you decide.

Frequently Asked Questions

How long does it take for my Fidelity Roth IRA to be active?

Online accounts are usually active the same day or next business day after Fidelity confirms your identity. Phone and in-person accounts are active immediately. You can fund the account right away, but you do not have to — you can wait days or weeks to make your first deposit.

Can I open a Roth IRA if I do not have a job?

No, you must have earned income to contribute to a Roth IRA. If you are married and your spouse works, you may open a spousal Roth IRA using your spouse's income. Fidelity will explain this option during the opening process if you mention you are not employed.

What if I do not know my routing number?

Log into your bank's website or app and look for account details or settings — the routing number is usually listed there. You can also call your bank's customer service line and ask. If you do not want to link a bank account, you can mail a check to Fidelity instead.

Can I open multiple Roth IRAs at Fidelity?

You can open more than one Roth IRA at Fidelity, but your total contributions across all Roth IRAs cannot exceed the annual limit ($7,000 or $8,000 depending on age). Having multiple accounts does not increase how much you can contribute — it just splits the same limit across accounts.

What happens if my income is too high for a Roth IRA?

If your income exceeds the limit for your filing status that year, you cannot make a direct contribution to a Roth IRA. Some people use a backdoor Roth strategy instead, which involves contributing to a traditional IRA and then converting it to a Roth. Fidelity can explain this option, but you may want to speak with a tax professional first.