Available IRA Accounts

Webull provides three types of IRAs: Traditional IRAs, Rollover IRAs, and Roth IRAs. You can open one of each IRA type.

Traditional IRA

A Traditional IRA is a tax-advantaged individual retirement account that allows individuals to invest pre-tax dollars for retirement. These contributions are made directly by the account holder and may be tax-deductible, potentially lowering your taxable income. Earnings in your Traditional IRA grow tax-deferred, meaning you won't pay federal income taxes on them until you withdraw the funds during retirement. Please note that Required Minimum Distributions (RMDs) are generally a requirement for these accounts once you reach the age of 73. You can still contribute to a Traditional IRA even if you are enrolled in another retirement plan through your employer or business.

Rollover IRA

A rollover IRA is an individual retirement account created with funds rolled over from a qualified retirement plan, like a 401(k), usually when someone leaves a job. Transferring rollover funds from an employer-sponsored plan to a traditional IRA that also contains your direct contributions is known as commingling funds. This may not be advisable, especially if you plan to move the rollover funds to a new employer’s plan in the future.

Roth IRA

A Roth IRA is a tax-advantaged individual retirement account where you contribute after-tax dollars to save for retirement. Unlike a Traditional IRA, contributions made to a Roth IRA are not tax-deductible. The primary advantage of a Roth IRA is that any earnings from your investments grow tax-free. When you withdraw funds in retirement, both your contributions and earnings can be withdrawn without incurring federal income taxes, provided certain conditions are met. You can still contribute to a Roth IRA even if you are enrolled in another retirement plan through your employer or business. Roth IRA contributions may be restricted if your income exceeds a certain threshold.

How do I open an IRA?

To open an IRA, you need to meet the following requirements:

1. Be at least 18 years of age.
2. You or your spouse (if filing a joint tax return) must have received income during the year.
3. Must be a U.S. citizen currently living in the United States or a U.S. resident alien.

To open an IRA at Webull, please use the following instructions for our mobile app, website, or desktop application:

App:

Existing User:

1. Navigate to Menu ➝ Settings ➝ Account Management ➝ Apply for new accounts
2. Select either Traditional, Rollover, or Roth IRA.
3. Follow the application prompts.

New User:

1. Tap Sign up
2. Enter your phone number or email address.
3. Tap to agree to the terms of service.
4. Enter the verification code sent your phone number or email address.
5. Create your login password.
6. Confirm your login password.
7. Tap Sign up
8. Choose your layout by selecting between our sophisticated trading platform or Lite trading platform.
9. Select Open account
10. Follow the application prompts.

Web:

Existing User:

1. Navigate to My Account.
2. Select either Traditional, Rollover, or Roth IRA.
3. Follow the application prompts.

New User:

1. Click Sign Up.
2. Enter your phone number.
3. Enter the verification code sent to your phone number.
4. Click the box to agree to the terms of service .
5. Create your login password.
6. Confirm your login password.
7. Select either Traditional, Rollover, or Roth IRA.
8. Select Open account.
9. Follow the application prompts

Desktop:

Existing User:

1. Click your account number (upper right).
2. Select either Traditional, Rollover, or Roth IRA.
3. Follow the application prompts.

New User:

1. Click Sign up.
2. Enter your phone number.
3. Enter verification code sent to your phone number.
4. Create your login password.
5. Confirm your login password.
6. Click Next.
7. Select Open account.
8. Enter your email address.
9. Enter the verification code sent to your email address.
10. Follow the application prompts.