For the 2024 tax year:

• You can contribute up to $7,000 (under age 50) and $8,000 (50+) total across all of your IRAs.
• You can only contribute to a Roth IRA if your modified adjusted gross income (MAGI) is under $161,000 if you’re single, and $240,000 if you’re filing jointly.

Keep in mind, you can contribute to your IRA for the previous tax year until the IRS tax filing deadline.

For the 2025 tax year:

• You can contribute up to $7,000 (under age 50) and $8,000 (50+) total across all of your IRAs.
• You can only contribute to a Roth IRA if your modified adjusted gross income (MAGI) is under $165,000 if you’re single, and $246,000 if you’re filing jointly.

Keep in mind, these income limits don’t apply to your ability to contribute to a traditional IRA, and contribution limits can change annually. Visit the IRS website and consult a tax advisor for your specific situation.

After you’ve set up your Retirement account with us, do the following to make a new or recurring contribution or an indirect rollover.

For a managed IRA:

1. Go to Investing, and then select the IRA you want to contribute to.
2. In Contributions, select Contribute
3. If prompted, select the applicable tax year.
4. Enter the amount you’d like to contribute. You can see the amount you can contribute on Robinhood until you reach your max for the year
5. Select Continue
6. Confirm the details of your contribution, including:

• Amount - How much you’re transferring in
• Frequency - Adjust the contribution to be recurring
• From and To - Where the transfer is coming from and into which managed IRA account
• Contribution type – Either New IRA contribution or Indirect rollover
• Tax year - Confirm the applicable tax year

7. Select Submit → Done

For self-directed IRAs:

1. Go to Account (person icon) → in the app, Menu (3 bars)
2. Select Transfers, and then select either Deposit or Recurring deposits
3. Select the account you want to transfer the money from
4. Select the account you want to deposit the money to
5. Select New IRA contribution or Indirect rollover
6. If prompted, select the tax year
7. Confirm the details of your contribution, including:

• Funding method – All new IRA contributions, IRA transfers, and old 401(k) rollovers can earn the IRA match*
• Type of contribution – Either New IRA contribution or Indirect rollover
• Tax year - Confirm the applicable tax year
• Frequency - Confirm as applicable, such as just once, weekly, biweekly, monthly, or quarterly

8. Select Continue → Schedule deposit

You can view your previous contributions anytime in Retirement → Contributions → History.

You can set up recurring contributions to your Robinhood IRA. Simply select a Frequency that’s recurring in the steps to Make a contribution, including:

• Weekly for a contribution to initiate every Monday
• Twice a month for a contribution to initiate on the 1st and 15th of every month
• Monthly for a contribution to initiate on the 1st of every month
• Quarterly for a contribution to initiate on the 1st of January, April, July, and October

To change or cancel a recurring contribution

For managed IRAs:

1. Go to Investing
2. In Contributions, select Recurring contributions
3. Select the contribution you'd like to change or cancel
4. Make any applicable changes and when prompted, confirm your selection

For self-directed IRAs:

1. Go to Account (person icon) → in the app, Menu (3 bars)
2. Select Transfers → Recurring deposits
3. Select the recurring deposit you want to change or cancel
4. Select either Skip next deposit or Cancel recurring deposit
5. When prompted, confirm your selection

Taxes for contributions

Contributions will be reported on IRS Form 5498, which is issued annually in May.

If you’ve mistakenly allocated a new IRA contribution to the incorrect tax year, you can contact us to request an adjustment.

Funds being contributed into or distributed from retirement accounts may entail tax consequences. Contributions are limited and withdrawals before age 59 1/2 may be subject to a penalty tax.

Contents provided are for informational purposes only and don’t constitute tax or investment advice. For specific questions, you should consult a tax professional. Robinhood does not provide tax advice. Links to third party sites are being provided for informational purposes only.

All investments involve risk and loss of principal is possible. Investors should consider their investment objectives and risks carefully before investing.

The Robinhood IRA is available to any of our US customers with a Robinhood investing account in good standing. Note, if you have a B-Notice, you won’t be able to open an IRA until your account restrictions are lifted.

Robinhood Asset Management, LLC (“RAM” or “Robinhood Strategies”) is an SEC-registered investment advisor. Robinhood Financial LLC (member SIPC) is a registered broker dealer. Robinhood Securities LLC (member SIPC) provides clearing services.