There are three essential rules for establishing a custodial roth ira for children. No prescribed age limit for setting up a custodial roth ira. The irs has not.
The irs has not. As long as a child earns income, they can contribute to a custodial roth ira, which is simply a roth ira for a minor. There is no minimum age requirement to open a roth ira. A roth ira for kids provides all the benefits of a regular roth ira, but is geared toward children under the age of 18 and requires an adult to serve as custodian. The custodian maintains control of the child's roth ira, including decisions about contributions, investments, and distributions.
There is no minimum age requirement to open a roth ira. A roth ira for kids provides all the benefits of a regular roth ira, but is geared toward children under the age of 18 and requires an adult to serve as custodian. The custodian maintains control of the child's roth ira, including decisions about contributions, investments, and distributions.