Available IRA Accounts

What types of IRAs does Webull offer?

Webull offers three types of Individual Retirement Accounts (IRAs):

• Traditional IRA
• Rollover IRA
• Roth IRA

You may open one of each IRA type.

What is a Traditional IRA?

A Traditional IRA allows you to invest pre-tax dollars for retirement, with key benefits including:

• Contributions may be tax-deductible, potentially reducing your taxable income.
• Earnings grow tax-deferred; you won’t pay federal income taxes until you withdraw funds.
• Required Minimum Distributions (RMDs) are generally a requirment for these account types once you reach the age of 73.
• You can contribute even if you participate in an employer-sponsored retirement plan.

What is a Rollover IRA?

A Rollover IRA is used to transfer funds from a qualified retirement plan—such as a 401(k)—typically when leaving an employer. It helps preserve the tax-deferred status of your retirement assets without triggering taxes or penalties.

Key details

• Rollover IRAs follow the same contribution limits and withdrawal rules as Traditional IRAs.
• Transferring rollover assets into a Traditional IRA that also includes personal (direct) contributions is known as commingling funds. This may limit your ability to move those funds into a new employer-sponsored retirement plan in the future, so it’s important to consider the implications before combining accounts.

What is a Roth IRA?

A Roth IRA is an individual retirement account funded with after-tax dollars. Unlike traditional IRAs, Roth contributions are not tax-deductible. However, it offers unique advantages for long-term retirement planning.

Benefits

• Tax-free growth: Investment earnings grow without being taxed.
• Tax-free withdrawals: Qualified withdrawals in retirement are not subject to federal income tax.
• Flexible participation: You can contribute even if you're enrolled in another retirement plan.
• No required minimum distributions (RMDs) during the account holder’s lifetime.

Limitations

• Contributions are not tax-deductible: You don’t receive an upfront tax break for contributing.
• Income limits apply: Your ability to contribute may be reduced or eliminated based on your modified adjusted gross income (MAGI).

What are the requirements to open an IRA?

To be eligible to open an IRA at Webull, you must:

• Be at least 18 years old.
• Have earned income during the year (or your spouse must, if filing jointly).
• Be a U.S. citizen living in the U.S. or a U.S. resident alien.

How do I open an IRA?

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.

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.

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