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IRS.gov Website
Publication 590-B
taxmap/pubs/p590b-006.htm#en_us_publink1000230955

Chapter 2
Roth IRAs(p29)


Reminders(p29)

rule
taxmap/pubs/p590b-006.htm#en_us_publink100076094
Disaster relief.(p29)
If you were affected by Hurricane Harvey, Irma, or Maria, see chapter 3, Disaster-Related Relief.
taxmap/pubs/p590b-006.htm#en_us_publink1000230967
Deemed IRAs.(p29)
For plan years beginning after 2002, a qualified employer plan (retirement plan) can maintain a separate account or annuity under the plan (a deemed IRA) to receive voluntary employee contributions. If the separate account or annuity otherwise meets the requirements of an IRA, it will be subject only to IRA rules. An employee's account can be treated as a traditional IRA or a Roth IRA.
For this purpose, a "qualified employer plan" includes:
  • A qualified pension, profit-sharing, or stock bonus plan (section 401(a) plan),
  • A qualified employee annuity plan (section 403(a) plan),
  • A tax-sheltered annuity plan (section 403(b) plan), and
  • A deferred compensation plan (section 457 plan) maintained by a state, a political subdivision of a state, or an agency or instrumentality of a state or political subdivision of a state.
taxmap/pubs/p590b-006.htm#en_us_publink1000248503
Designated Roth accounts.(p29)
Designated Roth accounts are separate accounts under 401(k), 403(b), or 457(b) plans that accept elective deferrals that are referred to as Roth contributions. These elective deferrals are included in your income, but qualified distributions from these accounts aren't included in your income. Designated Roth accounts aren't IRAs and shouldn’t be confused with Roth IRAs. Contributions, up to their respective limits, can be made to Roth IRAs and designated Roth accounts according to your eligibility to participate. A contribution to one doesn't impact your eligibility to contribute to the other. See Pub. 575, for more information on designated Roth accounts.

taxmap/pubs/p590b-006.htm#en_us_publink1000270053Introduction

Regardless of your age, you may be able to establish and make nondeductible contributions to an individual retirement plan called a Roth IRA.
taxmap/pubs/p590b-006.htm#en_us_publink1000230968

Contributions not reported.(p29)

rule
You don't report Roth IRA contributions on your return.
taxmap/pubs/p590b-006.htm#en_us_publink1000230969

What Is a Roth IRA?(p30)

rule
A Roth IRA is an individual retirement plan that, except as explained in this chapter, is subject to the rules that apply to a traditional IRA (defined next). It can be either an account or an annuity. Individual retirement accounts and annuities are described in How Can a Traditional IRA Be Opened? in chapter 1 of Pub. 590-A.
To be a Roth IRA, the account or annuity must be designated as a Roth IRA when it is opened. A deemed IRA can be a Roth IRA, but neither a SEP IRA nor a SIMPLE IRA can be designated as a Roth IRA.
Unlike a traditional IRA, you can't deduct contributions to a Roth IRA. But, if you satisfy the requirements, qualified distributions (discussed later) are tax free. Contributions can be made to your Roth IRA after you reach age 701/2 and you can leave amounts in your Roth IRA as long as you live.
taxmap/pubs/p590b-006.htm#en_us_publink1000230973

Traditional IRA.(p30)

rule
A traditional IRA is any IRA that isn't a Roth IRA or SIMPLE IRA. Traditional IRAs are discussed in chapter 1.