|Roth IRA||Designated Roth Account|
|Number of Investment Choices||Many as long as not prohibited||As offered by the plan|
|Participation||Anyone with earned income||Participant in a 401(k), 403(b) or 457 governmental plan that allows designated Roth contributions|
|Contribution limits||$5,500 (for 2018) $6,000 (for 2019)
$6,500* (if age 50 or older for 2018) $7,000 (if age 50 or older for 2019). Contributions are also limited by tax filing status and adjusted gross income. See Publication 590-A, Contributions to Individual Retirement Accounts (IRAs), for a worksheet to figure your reduced contribution.
|$18,500 in 2018 and $19,000 in 2019*
$24,500 in 2018 and $25,000 in 2019* (if age 50 or older). Limit is not impacted by filing status or adjusted gross income.
|Recharacterization of rolled-over amounts||
Not allowed for Roth conversions made after 12/31/2017
|Required minimum distributions||Only after the original IRA owner’s death||Yes|
|Tax on nonqualified distributions||Nonqualified distributions are distributed in this order:
||Nonqualified distributions are pro-rated between Roth contributions (nontaxable) and earnings (taxable)|
|Withdrawals||Anytime. May be subject to tax if not a qualified distribution||Only when allowed by the terms of the plan. Subject to tax if not a qualified distribution|
|Loans||No||Yes, if plan allows|
|5-year holding period for qualified distributions||Begins January 1 of the year a contribution is made to any Roth IRA||Separate for each Roth account and begins on January 1 of the year contributions made to that account. If one Roth account is rolled into another, the earlier start date applies.|
|Beneficiary||Anyone||Anyone but, if married, spouse must consent to nonspouse beneficiary|
*See Cost-of-Living Adjustments for other years’ limits.