IRA for Minors

A retirement account for children under 18 with earned income

Annual contributions

$7,000 for 2024 ($6,500 for 2023), or 100% of taxable compensation for the year, whichever is less


16–19 year olds are employed in the US1

Why a IRA for minors?

Eligibility information

Eligible participants are under age 18 and must have earned income for the tax year for which a contribution is made

Tax-deferred earnings

Earnings generally grow on a tax-deferred basis, which may allow for assets to accumulate more quickly than in a taxable account

No annual IRA fees and no account minimums

Transaction fees, fund expenses, brokerage commissions, and service fees may apply

Access to a wide range of investment choices

Choose from a wide range of stocks, bonds, options, 7,000+ mutual funds, and ETFs

Trade more, pay less

With E*TRADE from Morgan Stanley, you pay $0 commissions for online US-listed stock, ETF, mutual fund, and options trades. Here’s a quick overview of our clear, competitive per-trade pricing.1

IRA for Minors FAQs

See all FAQs

Already have an IRA? Contribute now.

Yes. If the child is under age 18 and has earned income. The IRA for Minors account is opened by the minor's guardian (natural or legal guardian) who must sign the application. Additional requirements are the minor must be a U.S. citizen or resident with a valid U.S. address.

Learn more about IRAs for Minors.

  • Eligible participants are under age 18
  • The minor must have earned income for the tax year in which a contribution is made
  • A guardian (natural or legal guardian) establishes, trades, and maintains the account for the benefit of the minor. Only one guardian is allowed per account.
  • The minor must be a US citizen or resident
  • IRAs for Minors must be established by the tax filing deadline (without extensions) for the tax year for which the qualifying contribution(s) will apply. This date is generally April 15 of each year. Applications postmarked by this date will be accepted.


The current IRA contribution limit is 100% of earned income, or $7,000 for 2024 ($6,500 for 2023), whichever is less.

Yes, recurring contributions can be set up to a child’s IRA, up to the annual maximum contribution limit.

Determining if a child can deduct all or part of Traditional IRA contribution is based on various factors. To learn more about the amount of your child’s contribution that can be deducted, consider using the IRA Selector or view IRA Contribution Limits and Deadlines, and speaking with your tax advisor.

There are no annual IRA fees and no account minimums for E*TRADE IRA accounts. Transaction fees, fund expenses, brokerage commissions, and service fees may apply.

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Automated investment management

Get a diversified portfolio that’s monitored and managed for a low annual advisory fee of 0.30% and $500 minimum.5