Accounts & Products

Traditional IRA

To reach your retirement goals, we recommend taking full advantage of tax-smart ways to save. With a Schwab Traditional IRA, you won't pay taxes on earnings until you make withdrawals, and you may get immediate tax benefits when you contribute. And no fees to open or maintain your account¹ means more money invested in your future.

What are the fees and commissions?

Service fees: $0¹
Minimum required to open an account: $1,000²
Commissions: $8.95 per online equity trade;³ $0 per Schwab ETF online trade in your Schwab account⁴

What do I get with this Traditional IRA?

Every Schwab account comes with investment help and guidance. With this account, you’ll get:

Immediate tax benefits if you qualify
Potential gains accumulate tax-deferred—pay no taxes until funds are withdrawn in retirement
Retirement planning tools and resources in our IRA Center
24/7 service and support

See client reviews

Ready to get started?

Apply Now

Need help? Call
866-855-5636.

Account fees and commissions

There is no fee to open or maintain an account at Schwab.

Minimum opening deposit: $1,000 (waived with automatic $100 monthly deposits)²
Monthly service charge: $0
Online equity trades: Just $8.95,³ regardless of your account balance, how often you trade, or how many shares you trade

Want more pricing details?

Review all our account fees and minimums.

Quick answers to related questions

Have questions about our Traditional IRA? Here are responses to some of the most common questions we hear. If you have a specific question, please call us at 866-855-5636.

How do I open this account?

It’s quick and easy to apply online once you’ve gathered the required information listed on the Online Application Checklist. You can also download an applicationand mail it back to us, or call us at anytime for assistance.

When can I access my account?

We’ll send you your account number as soon as your application is completed and approved. You can use your account number to log in and manage your account. Please note that your account must be funded before you can begin trading.

What are the tax benefits of a Traditional IRA?

This type of account can give you immediate tax benefits, and your contributions can grow tax-deferred. However, you’ll pay taxes on contributions and earnings when you take out money in retirement.

What are the benefits of a Schwab Traditional IRA?

With a Schwab Traditional IRA, you get:

Investment help and guidance
Retirement planning tools and resources in our IRA Center
24/7 service and support

What kinds of investment choices do I have?

Choose from stocks, bonds, ETFs, mutual funds, CDs, and more. Schwab also offers professional portfolio management solutions that can make investing even easier. As a Schwab client, you can have a complimentary consultation with a Schwab investment professional who can help you decide which investments are right for you. Just give us a call at 866-855-5636. We’re here and happy to help.

How much can I contribute to a Traditional IRA each year?

You can contribute up to $5,500 for tax year 2013 ($6,500 if you are at least age 50) or up to 100% of earned income, whichever is less. Income limits apply.

Roth or Traditional IRA—what’s the difference?

A key consideration is whether it makes more financial sense to take advantage of immediate tax benefits or enjoy tax-free withdrawals in retirement. With a Traditional IRA, you may get immediate tax benefits, but you’ll have to pay ordinary income tax on your contributions and earnings when you take money out in retirement. With a Roth IRA, there are no immediate tax benefits, but contributions and earnings grow tax-free. All withdrawals can be taken out tax-free and penalty-free providing you’re 59½ or older and you have met the minimum account holding period (currently five years).

View our Roth vs. Traditional IRA comparison chart.

Applying for a Schwab Traditional IRA is fast and easy.

It helps to have the following information on hand before you get started:

Your Social Security number
Your driver’s license number
Your employer’s name and address (if applicable)
Statement information for assets or cash you may want to transfer
Beneficiary information, including Social Security number and contact information

Take the next step.

Apply Now or call 866-855-5636.

Download a Traditional IRA application.
Request a Traditional IRA application by mail.
See our Roth vs. Traditional IRA comparison chart.
Find more help at our IRA Center.
See all Schwab accounts.

We're here to help.
OPEN
We’ll help you choose the right account. Call 877-627-7734 or visit a local branch.
FUND
Your New Client Concierge will help you take care of the paperwork, transfer assets, and more.
INVEST
Get a complimentary 1-on-1 consultation to select the right investments based on your goals.

1. There are no fees to open or maintain your account. Other fees may apply; please see pricing details.

2. The $1,000 minimum required to open an account is waived if you set up an automatic monthly transfer of $100 through direct deposit or Schwab MoneyLink.

3. Restrictions apply: The $8.95 commission does not apply to foreign stock transactions, large block trading transactions requiring special handling, or restricted stock transactions. All broker-assisted and automated phone trades are subject to service charges. See the Charles Schwab Pricing Guide for details. Employee equity compensation transactions are subject to separate commission schedules.

4. Restrictions apply: Online trades of Schwab ETFs™ are commission-free at Charles Schwab & Co., Inc. (member SIPC), while trades of third-party ETFs are subject to commissions. Broker-assisted and automated phone trades are subject to service charges. A minimum $1,000 deposit is required to open most Schwab brokerage accounts. Waivers may apply. See the Charles Schwab Pricing Guide for details. All ETFs are subject to management fees and expenses.

Investors should consider carefully information contained in the prospectus, including investment objectives, risks, charges, and expenses. You can request a prospectus by calling 800-435-4000. Please read the prospectus carefully before investing.

Schwab ETFs are distributed by SEI Investments Distribution Co. (SIDCO). SIDCO is not affiliated with Charles Schwab & Co., Inc.

This information is not intended to be a substitute for specific individualized tax, legal, or investment planning advice. Where specific advice is necessary or appropriate, Schwab recommends that you consult with a qualified tax advisor, CPA, financial planner, or investment manager.

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