Roth IRA A Roth IRA is a retirement savings account that offers significant savings incentives. One can contribute to a Roth IRA with after-tax income, so contributions are not tax deductible. However, earnings on contributions are tax-free if the earnings remain in the Roth IRA for at least five years and the shareowner waits until age 59 1/2 to begin withdrawals (with certain exceptions). Principal and earnings may be withdrawn tax-free after the age of 59 1/2 for any purpose if the Roth IRA is at least five years old. Shareholders are not required to take a mandatory distribution at age 70 1/2. They can also continue to contribute to the Roth IRA after age 70 1/2 if they have earned income.
Annual Maintenance Fee (per Fund account):
$10 (up to $20 per Social Security Number)
One-time Set Up Fee (per Fund account):
$5
Initial Investment Minimum (per Fund account):
$1000
Open a new Roth IRA Account - Registration Checklist In order to complete the account registration process, you will need to have certain personal financial information available to you. Please review and print this checklist before you begin. Open Account
Your Social Security Number.
The names of the Oakmark funds in which you want to invest. (Click here for an overview of the Oakmark Funds.)
The names, birth dates, and Social Security numbers of your beneficiaries (optional).
Your Bank Account Number (either checking or savings, whichever you prefer).
Your Bank's Routing Number - See below for an example of where to find your bank's routing number.
Please read the IRA Disclosure Statement for an explanation of Oakmark's IRA policies and IRS regulations governing IRAs.
