IRA match FAQ | Robinhood

IRA match FAQ

What’s the IRA match?

The IRA match is an extra 3% match on annual contributions with Robinhood Gold or 1% without.

All IRA transfers and old 401(k) rollovers earn 1%. And for a limited time, Gold members can get a 3% match on all IRA transfers and old 401(k) rollovers. Check out Robinhood IRA Transfers Gold Match for details.

Keep in mind, the match isn’t counted toward your annual contribution limits, and there’s no limit on the match amount you can earn.

Previously, you got matched on every external dollar you contributed. Now, you get matched on any amount from contributions, IRA transfers, or old 401(k)s. We’ll add 1%. No cap.

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 (or $195 with Robinhood Gold)

  • $7,500 if you are age 50 or over, which means you can earn up to $75 on top of your contributions (or $225 with Robinhood Gold)

The IRA contribution limits set by the IRS for 2024 are:

  • $7,000 if you are under age 50, which means you can earn up to $70 extra (or $210 with Robinhood Gold)

  • $8,000 if you are age 50 or over, which means you can earn up to $80 on top of your contributions (or $240 with Robinhood Gold)

How is the IRA match calculated?

For IRA contributions, you can earn the 3% match with Robinhood Gold or 1% without for all new IRA contributions (up to the contribution limit) from any linked account.

When your IRA transfer completes, the amount of the match is calculated based on 1% of the total of the transferred cash plus transferred securities and options, using the National Market System closing price of each position transferred into the account on the trading day before when the transfer settles. Settlement occurs when the securities are posted to the account and available to trade. Note that the match is only available for securities that successfully transfer and settle, and won’t be granted for securities that are rejected.

When your old 401(k) rollover completes, the match will be calculated based on 1% of the total rollover amount. No cap.

For a limited time, Gold members can get an extra 3% match on all IRA transfers and old 401(k) rollovers. Check out Robinhood IRA Transfers Gold Match for details.

Which contributions are eligible to earn the IRA match?

You can earn the IRA match on all new IRA contributions, IRA transfers, and 401(k) rollovers.

How much can I earn?

You’ll earn an extra 3% match on contributions with Robinhood Gold or 1% without. All IRA and old 401(k) transfers earn 1%. For a limited time, Gold members can get a 3% match on all IRA transfers and old 401(k) rollovers. Check out Robinhood IRA Transfers Gold Match for details. There’s no limit on what you can earn in match dollars. Keep in mind, you must:

  • Hold eligible contributions in your IRA for at least 5 years to keep the match.
  • Maintain your Gold membership for at least 1 year from the date of your first 3% match to keep the extra 2% match.
Does the IRA match count toward my annual IRA contribution limit?

No. The IRA match counts as interest income in your IRA and doesn’t count toward your annual IRA contribution limit.

When will I get the IRA match?

You’ll usually get the IRA match right away after your deposits settle. The exact amount of time depends on the type of contribution you’re making.

How much match do IRA transfers and old 401(k) rollovers earn?

An uncapped 1%. For example, if you transfer $1,000 from an outside IRA account, you’ll earn a $10 match.

For a limited time, Gold members can earn an uncapped 3% match on IRA transfers or rollovers. Check out Robinhood IRA Transfers Gold Match for details.

How long do IRA transfers and old 401(k) rollovers typically take to complete?

For IRA transfers, after we receive an account transfer request, it typically takes 5-7 business days for the transfer to be completed in your Robinhood account. Check out Transfers FAQ for more info.

For old 401(k) rollovers, this process can typically take 2-4 weeks for deposits to complete.

Can I still make prior-year contributions?

After the federal tax deadline of April 15th, 2024, you can no longer make contributions for the 2023 tax year in the Robinhood app.

If you’re included within the federal disaster tax deadline extension areas and want to make a prior-year contribution, contact Robinhood Support.

Is the Robinhood IRA match the same as an employer's 401(k) match?

No, they're not the same. The Robinhood IRA match and employer 401(k) match both offer matches on contributions. They have the following differences:

  • The IRA match doesn't count toward your annual contribution limit, which means it’s extra money on top of your contributions.
  • A Robinhood IRA isn’t tied to any employer. You’ll get your Robinhood IRA match no matter how you’re employed.
  • A 401(k) employer match is a contribution that an employer makes to an employee's retirement account. The Robinhood IRA is entirely different from your employer plan.
  • You can have both a 401(k) with an employer match and a Robinhood IRA with a match.

Keep in mind that limitations apply to both types of retirement accounts. Please refer to the IRS IRA Deduction Limits for more information.

Can I earn the IRA match for amounts less than $1?

Yes! The match is calculated to 4 decimal points. We’ll add the match to your account after it reaches the next whole cent increment.

For example, if you make 4 individual contributions of $0.25, we’ll add a match into your account when it accrues up to $0.01.

Do I get to keep the IRA match if I withdraw money from my IRA?

Keeping the IRA match after withdrawing funds 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 funds 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're a Gold member and you transferred $1,000 and earned a $30 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 $30 IRA match as long as the remaining IRA balance is at least $1,000 (which represents your eligible contribution amount that earned the $30 IRA match).

When withdrawing money from your IRA less than 5 years after making the transfer, 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 transfer amount that earned the IRA match.

Example

Let's say you aren't a Gold member and you transferred $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 transfer, 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 IRA match removal fee:

ContributionIRA matchWithdraw dateAccount valueWithdraw amountRemaining balanceFee
$1,000$105 or more years$1,000-$800$200$0
$1,000$10Less than 5 years$1,000-$800$200$8
$1,000$10Less than 5 years$2,000-$800$1,200$0
$1,000$10Less 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.

Can I keep the additional 2% IRA match if I cancel my Gold membership?

Keeping the additional 2% IRA match after canceling your Gold membership depends on how long you've been a Gold member after earning your first additional match.

As long as you remain a Gold member for at least 1 year from the date of your first 3% match, you can keep the additional 2% match.

For example, if you’re a Gold member who contributed $1,000 and earned a $30 IRA match on June 1, 2025, you can keep all of it if you cancel your Gold membership on or after June 1, 2026.

If you cancel your Gold membership before June 1, 2026, you’ll lose the additional 2% of $20 in this example as the Robinhood Gold cancellation IRA match removal fee.

KEEP IN MIND
If you elect to downgrade from Robinhood Gold early, or are downgraded for any reason (ex. Failure to pay the monthly Gold subscription fee in your individual brokerage account), you’ll need to have enough uninvested cash in your IRA to cover what you owe. Otherwise, the fee charge may create a cash deficit and we may sell off some of your positions to cover the IRA match removal fee. We will notify you if this scenario occurs. To add cash, you can either transfer money from another account or liquidate assets in your IRA.

The following are some more examples of when the Robinhood Gold cancellation IRA match removal fee may apply:

  • Let’s say you’re a Gold member for 10 months and just earned your first additional match. If you cancel your Gold membership 3 months later, you can’t keep the additional 2% match because the fee applies.
  • Let’s say you’re a Gold member who earned the incremental match, and then canceled your Gold membership 18 months later. You’ll keep the match that you earned. If you become a Gold member again and earn the match 3 months later, you’ll need to maintain your Gold membership for a full year from the date that you earned the match during your new Gold membership in order to keep it. Otherwise the fee applies.

Other fees and taxes may apply. Review the following section about early transfer fees and our fee schedule for details. Robinhood doesn’t provide tax advice. Consult a tax advisor for help.

How can I add money to my Robinhood IRA?

You can add money through:

  • New contributions: Check out IRA Contributions for more info.
  • Transfers from IRAs from other firms: Check out IRA Transfers for more info.
  • Rollovers from old 401(k)s or other employer plans: Check out Rollovers for more info.
Are there fees if I transfer my IRA out of Robinhood?

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 fee schedule.

What happens if I earn an IRA match in my traditional IRA but then want to convert it to my Roth IRA?

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.

How is the IRA match treated for tax reporting purposes?

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.

As a Gold member, will I get the 3% match for contributions made before the increase?

No, you won’t get the 3% IRA Match on contributions you made as a Gold member before it was launched. However, you'll still get the 1% match on eligible contributions.

Disclosures

A rollover is not your only option for an old 401(k). You generally have 4 options for what you can do with a 401(k) from a former employer. There are pros and cons to each that you should consider. This isn’t tax advice. Consult a tax professional to understand your unique situation. For more information, review Transfers and rollovers and visit FINRA.

You must have compensation (wage) income in order to contribute to an IRA. 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 doesn't provide tax advice. Consult with a tax adviser if you have questions.

The Robinhood IRA is available to any of our US customers with a Robinhood brokerage 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 Match Terms & Conditions

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All investing involves risk.

Brokerage services are offered through Robinhood Financial LLC, (“RHF”) a registered broker-dealer (member SIPC) and clearing services through Robinhood Securities, LLC, (“RHS”) a registered broker dealer (member SIPC). Cryptocurrency services are offered through Robinhood Crypto, LLC (“RHC”) (NMLS ID: 1702840). The Robinhood Money spending account is offered through Robinhood Money, LLC (“RHY”) (NMLS ID: 1990968), a licensed money transmitter. Credit card products are offered by Robinhood Credit, Inc. (“RCT“) (NMLS ID: 1781911 and issued by Coastal Community Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc.

The Robinhood Cash Card is a prepaid card issued by Sutton Bank, Member FDIC, pursuant to a license from Mastercard® International Incorporated. RHF, RHY, RHC and RHS are affiliated entities and wholly owned subsidiaries of Robinhood Markets, Inc. RHF, RHY, RHC and RHS are not banks. Securities products offered by RHF are not FDIC insured and involve risk, including possible loss of principal. Cryptocurrencies held in RHC accounts are not covered by FDIC or SIPC protections and are not regulated by FINRA. RHY products are not subject to SIPC coverage but funds held in the Robinhood Money spending account and Robinhood Cash Card account may be eligible for FDIC pass-through insurance (review the Robinhood Cash Card Agreement and the Robinhood Spending Account Agreement).

Options trading entails significant risk and is not appropriate for all customers. Customers must read and understand the Characteristics and Risks of Standardized Options before engaging in any options trading strategies. Options transactions are often complex and may involve the potential of losing the entire investment in a relatively short period of time. Certain complex options strategies carry additional risk, including the potential for losses that may exceed the original investment amount.

Commission-free trading of stocks, ETFs and options refers to $0 commissions for Robinhood Financial self-directed individual cash or margin brokerage accounts that trade U.S. listed securities and certain OTC securities electronically. Keep in mind, other fees such as trading (non-commission) fees, Gold subscription fees, wire transfer fees, and paper statement fees may apply to your brokerage account. Please see Robinhood Financial's Fee Schedule to learn more.

© 2024 Robinhood. All rights reserved.