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?

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2 Answers 2


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.

  • Just updated my question
    – Sam007
    Jan 9, 2019 at 23:15
  • 1
    As Hart CO said, you can get those promotions from transferring from your bank account or from another broker to the new broker. Tax status of the account is important to ensure Roth IRA money is moved to a Roth account, and pre-tax is kept pre-tax, or that you are transferring pre-tax to post-tax on purpose and aware of tax implications. As far as I am aware, promotions are good for any new account holders, and are regardless of the tax status of the account.
    – Shorlan
    Jan 10, 2019 at 0:03

When you open an Roth IRA, it is empty - same as a bank account. You then contribute money, limited by the annual limits, or convert or rollover from an existing retirement account (IRA, 401(k), or Roth 401(k).

There is no intial payment from your cash, checking account, or investment account allowed (outside of the above listed contribution). The deposit they talk about means any choice of contribution, conversion, or rollover.

  • Just updated my question
    – Sam007
    Jan 9, 2019 at 23:15

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