What year did IRAs first start?

Answer IRAs, or individual retirement accounts, were first introduced in 1974 as part of the Employee Retirement Income Security Act. Roth IRAs were not introduced until 1997 as part of the Taxpayer Relie... Read More »

Top Q&A For: What year did IRAs first start

What year did Westart start to allow regular IRAs to roll over to Roth IRAs?

The year traditional IRAs were first allowed to covert into Roth IRAs was 1998. This was established by the Tax Payer Act of 1997 that became effective on January 1, 1998.Source:Congressional Budge... Read More »

What year did the government allow regular IRAs to roll over to Roth IRAs?

Roth IRAs were formally legislated as a result of the Taxpayer Relief Act of 1997. This legislation permitted new Roth IRAs to be created for tax year 1998 as well as the "conversion" of traditiona... Read More »

When Did Roth IRAs Start?

Roth IRAs began on January 1st, 1998, after Congress passed the Taxpayer Relief Act of 1997. The investment is named after William Roth, a Republican U.S. Senator from Delaware who introduced the b... Read More »

When did income restrictions start on IRAs?

Income restrictions on IRA accounts began in 1987. The Employee Retirement Income Security Act (ERISA) established individual retirement accounts in 1974, allowing anyone to contribute. Policy chan... Read More »