IRA Match FAQ
The IRA Match is an extra 1% that Robinhood adds to your IRA for making eligible contributions. It’s not counted toward your annual contribution limits, and is typically available to invest immediately.
The IRA contribution limits set by the IRS for 2022 are:
$6,000 if you are under age 50, which means you can earn up to $60 extra
$7,000 if you are age 50 or over, which means you can earn up to $70 on top of your contributions
The IRA contribution limits set by the IRS for 2023 are:
$6,500 if you are under age 50, which means you can earn up to $65 extra
$7,500 if you are age 50 or over, which means you can earn up to $75 on top of your contributions
You can earn the IRA Match on all new IRA contributions from any linked external bank account up to the annual IRA contribution limits set by the IRS (as described in the previous answer).
Contributions from your Robinhood brokerage or spending accounts don’t earn the IRA Match. Money deposited from IRA rollovers, transfers, or conversions aren’t considered annual contributions, so they also aren’t eligible for the IRA Match.
No. The IRA Match counts as interest income in your IRA and doesn’t count toward your annual IRA contribution limit.
The IRA Match will be available in your account and ready to invest at or around the same time as your eligible IRA contribution. You’ll typically see it in your account instantly.
Absolutely! You can earn the IRA Match on both prior-year and current-year contributions. The only limit to earning the IRA Match is the IRS contribution limits regardless of whether it’s a current-year or prior-year contribution.
The Robinhood IRA Match and employer 401(k) match both offer matches on contributions, but they aren’t the same. For starters, the IRA Match does not count toward your annual contribution limit so you have more to invest. Also, you don’t have to work for Robinhood to earn an IRA Match. In contrast, a 401(k) employer match is a contribution that an employer makes to an employee's retirement account.
No. You won’t earn the IRA Match on any amounts less than $1. The IRA Match is calculated based on each whole dollar contributed.
Keeping the IRA Match after withdrawing money from your IRA depends on how long you've had the contribution in your account and the total balance of your IRA.
As long as you’ve held your eligible contributions for at least 5 years, the IRA Match is yours to keep. If you withdraw money earlier than 5 years, and your remaining IRA balance stays at or above your contribution amount that earned the IRA Match, it’s yours to keep.
For example, if you contributed $1,000 and earned a $10 IRA Match on June 1, 2025, you can withdraw all of it on or after June 1, 2030.
If you choose to withdraw money from your IRA before June 1, 2030, you’ll keep the $10 IRA Match as long as the remaining IRA balance is at least $1,000 (which represents your eligible contribution amount that earned the $10 IRA Match).
When withdrawing money from your IRA less than 5 years after making the contribution, we may charge an Early IRA Match Removal Fee equal to the IRA Match amount earned if your remaining IRA balance is lower than your contribution amount that earned the IRA Match.
If you contributed $1,000 and earned a $10 IRA Match on June 1, 2025 and you withdraw money from your IRA less than 5 years after making the eligible contribution, and the remaining balance is $200, you may be charged an Early IRA Match Removal Fee of $8. This is equal to the $8 IRA Match you earned for the $800 of eligible contributions that you’re withdrawing.
The following shows some more examples of the Early Match Removal Fee:
|Contribution||IRA Match||Withdraw date||Account value||Withdraw amount||Remaining balance||Fee|
|$1,000||$10||5 or more years||$1,000||-$800||$200||$0|
|$1,000||$10||Less than 5 years||$1,000||-$800||$200||$8|
|$1,000||$10||Less than 5 years||$2,000||-$800||$1,200||$0|
|$1,000||$10||Less than 5 years||$850||-$800||$50||$9.50|
Note, that the Early IRA Match Removal Fee may apply to required minimum distributions as well.
Other fees and taxes may apply. See our fee schedule for details. Robinhood does not provide tax advice. Consult a tax advisor for help.
Generally, you’ll be charged an Early IRA Match Removal Fee if a transfer from your IRA:
Is less than 5 years after making the contribution that earned the IRA Match
And your remaining IRA balance is less than the contribution amount that earned the IRA Match
Otherwise, you’ll get to keep the IRA Match.
If you don't have any cash in your IRA, then the Early IRA Match Removal Fee will show up as a debit at the other firm. If you have cash available in your IRA, the Early IRA Match Removal Fee will be deducted from your cash balance.
Also, the fee for an outgoing transfer with the Automated Customer Account Transfer Service (ACATS) is $100.
For details, review our Robinhood fee schedule.
The IRA Match generally would be taxable during a conversion because it’s counted as interest income for tax reporting purposes. Everyone has a different tax situation and should consult a tax advisor.
The IRA Match is treated as interest income in your IRA. We won’t deliver a 1099-INT due to the tax status of IRAs.
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. Robinhood does not provide tax advice; please consult with a tax adviser if you have questions.
The Robinhood IRA is available to any customer with a Robinhood brokerage account in good standing.