Investor Account Access
Investor access to Shareowner accounts and Closed End Funds accounts.
Individuals are encouraged to seek advice from their financial, legal, tax and other appropriate financial professionals before making any investment or financial decisions or purchasing any financial, securities or investment-related product or service, including any product or service described in these materials. Amundi US does not provide investment advice or investment recommendations.
Who is eligible to make Traditional IRA contributions? | How much can I contribute? | Can my spouse also contribute? | Can I take a tax deduction for my contributions? | If I participate in a company retirement plan but my spouse does not, are my spouse’s contributions fully tax-deductible? | When can I make contributions? | When can I withdraw money from my account? | How will my withdrawals be taxed? | What if I take money out before age 59½?
Anyone who has earned income and has not reached age 70½ by the end of the year.
Up to $5,500 a year ($6,500 if age 50 or older), or 100% of your earned income, whichever is less. Earned income is earnings from employment (including self-employment or alimony), but not investment or rental income.
Whether or not your spouse has earned income, you can open separate IRAs and contribute up to $5,500 each ($6,500 if age 50 or older), for a total of $11,000 ($13,000 if both spouses are age 50 or older) each year – as long as your combined earned income is at least $11,000 ($13,000 if both spouses are over 50 and want to contribute the maximum amount) and your spouse is under age 70½.
Although anyone with earned income can contribute to a Traditional IRA, whether you can take a tax deduction depends on how much income you have, and whether you participate in a retirement plan at work.
Use the Guide to Traditional IRA Deductions to check your IRA deductibility.
Yes. In 2018, as long as your joint income is less than $189,000. If your income is between $189,000 and $199,000, you can take a partial deduction. For couples with income over $199,000, you cannot take a deduction if either spouse participates in an employer’s retirement plan.
At any time during the tax year, or until April 15 of the following year.
You can take money out at any time, but withdrawals before age 59½ may be subject to a 10% penalty tax. The law requires that you begin taking withdrawals no later than April 1 following the year you reach age 70½.
If all of your contributions were deductible, your withdrawals will be taxable as ordinary income. If you made any nondeductible contributions, they will come out tax-free, in which case each withdrawal from your account will be partly taxable and partly tax-free.
Normally, a 10% penalty tax applies to any taxable amount you withdraw before age 59½, but there are exceptions. For example, the penalty will not apply if you:
Also, the penalty will not apply to amounts your beneficiaries receive after your death.
See IRS Publication 590-B for a complete list of exceptions to the 10% penalty.
Before investing, consider the product's investment objectives, risks, charges and expenses. Contact your financial professional or Amundi US for a prospectus or summary prospectus containing this information. Read it carefully. To obtain a free prospectus or summary prospectus and for information on any Pioneer fund, please download it from our literature section.
Securities offered through Amundi Distributor US, Inc.
60 State Street, Boston, MA 02109
Underwriter of Pioneer mutual funds, Member SIPC.