# Limit on Maximum amount to open a Roth IRA

Is there a limit on what is the maximum amount that I can use to start a Roth IRA? What I mean is if I have $100,000 (taxed), can I open a Roth IRA with this amount and then continue with the annual contribution limit of$6000 (as of 2019).

Can I open a Roth IRA with $1,000,000? What is the maximum limit to open a Roth IRA account? If the maximum is$6000 or a new account is supposed to be empty, then why are their bonus cash offered for qualifying deposits?

Opening a Roth IRA is typically just your first annual contribution, so $6,000. You could open a Roth IRA with a larger amount via a 401k rollover and/or IRA conversion. There's also a mega backdoor Roth contribution that can get you around the annual limit, but that typically only makes sense when you're already maximizing all other tax-advantaged retirement accounts. Regarding your update: Those promotions like like they are related to standard brokerage accounts, but I have seen promotions on IRA accounts. You typically only qualify if you are transferring funds from another provider, for example if you already had a$60,000 Roth IRA with bank B, if you open an account with bank A and transfer it in, you'll qualify for some cash back.